Essex Investment Management Co. LLC purchased a new position in Pure Storage Inc (NYSE:PSTG) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 22,141 shares of the technology company’s stock, valued at approximately $351,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its position in shares of Pure Storage by 38.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock worth $105,000 after purchasing an additional 2,284 shares during the period. Amalgamated Bank bought a new position in shares of Pure Storage during the 2nd quarter worth approximately $151,000. Fortaleza Asset Management Inc. bought a new position in shares of Pure Storage during the 4th quarter worth approximately $154,000. SG Americas Securities LLC bought a new position in shares of Pure Storage during the 4th quarter worth approximately $162,000. Finally, Principal Financial Group Inc. bought a new position in shares of Pure Storage during the 2nd quarter worth approximately $166,000. 37.57% of the stock is owned by hedge funds and other institutional investors.

PSTG has been the subject of several recent analyst reports. Oppenheimer reiterated a “buy” rating and set a $21.00 price objective on shares of Pure Storage in a research note on Wednesday, November 29th. KeyCorp reiterated a “buy” rating and set a $24.00 price objective on shares of Pure Storage in a research note on Wednesday, November 29th. UBS Group reiterated a “buy” rating and set a $22.00 price objective (up previously from $18.00) on shares of Pure Storage in a research note on Wednesday, November 29th. Lake Street Capital set a $21.00 price objective on shares of Pure Storage and gave the stock a “buy” rating in a research note on Wednesday, November 29th. They noted that the move was a valuation call. Finally, BTIG Research boosted their price objective on shares of Pure Storage from $14.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $19.18.

In other news, President David Hatfield sold 130,000 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $18.05, for a total value of $2,346,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Dietzen sold 125,000 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $19.55, for a total transaction of $2,443,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 877,362 shares of company stock worth $15,556,864 in the last 90 days. 46.58% of the stock is currently owned by company insiders.

Pure Storage Inc (NYSE PSTG) opened at $19.03 on Friday. Pure Storage Inc has a 52 week low of $9.12 and a 52 week high of $21.23. The stock has a market cap of $4,257.60, a P/E ratio of -19.03 and a beta of 1.64.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.96%. The business had revenue of $277.70 million for the quarter, compared to analyst estimates of $272.07 million. During the same quarter in the prior year, the business posted ($0.10) EPS. Pure Storage’s revenue for the quarter was up 41.0% compared to the same quarter last year. research analysts forecast that Pure Storage Inc will post -0.93 earnings per share for the current year.

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Pure Storage Company Profile

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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