Pure Storage Inc. (PSTG) Position Increased by Bank of New York Mellon Corp
Bank of New York Mellon Corp raised its position in shares of Pure Storage Inc. (NYSE:PSTG) by 140.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 217,941 shares of the company’s stock after buying an additional 127,444 shares during the period. Bank of New York Mellon Corp owned approximately 0.11% of Pure Storage worth $2,375,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Franklin Resources Inc. raised its stake in Pure Storage by 177.5% in the first quarter. Franklin Resources Inc. now owns 2,299,005 shares of the company’s stock valued at $31,473,000 after buying an additional 1,470,420 shares in the last quarter. BlackRock Inc. raised its stake in Pure Storage by 48.9% in the first quarter. BlackRock Inc. now owns 43,223 shares of the company’s stock valued at $592,000 after buying an additional 14,197 shares in the last quarter. BlackRock Group LTD raised its stake in Pure Storage by 38.6% in the first quarter. BlackRock Group LTD now owns 1,109,042 shares of the company’s stock valued at $15,183,000 after buying an additional 308,673 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Pure Storage by 146.8% in the first quarter. JPMorgan Chase & Co. now owns 84,475 shares of the company’s stock valued at $1,156,000 after buying an additional 50,243 shares in the last quarter. Finally, Marcus Capital LLC purchased a new stake in Pure Storage during the first quarter valued at about $685,000. 49.35% of the stock is currently owned by institutional investors.
Pure Storage Inc. (NYSE:PSTG) traded up 5.26% during trading on Tuesday, hitting $14.62. The company had a trading volume of 2,225,624 shares. The company’s market capitalization is $2.87 billion. Pure Storage Inc. has a 12-month low of $9.62 and a 12-month high of $20.60. The firm has a 50-day moving average of $12.83 and a 200 day moving average of $12.80.
Pure Storage (NYSE:PSTG) last posted its earnings results on Thursday, August 25th. The company reported ($0.16) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. The business earned $163.21 million during the quarter, compared to the consensus estimate of $155.14 million. Pure Storage had a negative return on equity of 38.48% and a negative net margin of 38.27%. Pure Storage’s revenue was up 92.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.33) EPS. On average, equities research analysts forecast that Pure Storage Inc. will post ($0.63) earnings per share for the current year.
Several equities research analysts recently issued reports on the company. Vetr raised Pure Storage from a “hold” rating to a “buy” rating and set a $14.72 price target on the stock in a research report on Wednesday, September 21st. Morgan Stanley reaffirmed a “buy” rating and issued a $21.00 target price on shares of Pure Storage in a research report on Monday, September 12th. Robert W. Baird reaffirmed a “hold” rating on shares of Pure Storage in a research report on Friday, September 9th. Oppenheimer Holdings Inc. raised Pure Storage from a “market perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a research report on Wednesday, August 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Pure Storage in a research report on Monday, August 29th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $17.47.
In other Pure Storage news, CFO Timothy Riitters sold 3,231 shares of Pure Storage stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $13.50, for a total value of $43,618.50. Following the completion of the transaction, the chief financial officer now owns 31,769 shares in the company, valued at approximately $428,881.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 46.58% of the stock is owned by company insiders.
About Pure Storage
Pure Storage, Inc provides an enterprise data storage platform. The Company’s storage platform consists of approximately three integrated components, including the Purity Operating Environment, which is its flash-optimized software; FlashArray, which is its modular and scalable all-flash array hardware, and Pure1, which is its cloud-based management and support.
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