Y Intercept Hong Kong Ltd Has $9.10 Million Stake in Pure Storage, Inc. $PSTG

Y Intercept Hong Kong Ltd lifted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 925.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,514 shares of the technology company’s stock after acquiring an additional 97,935 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Pure Storage were worth $9,095,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PSTG. Merit Financial Group LLC grew its stake in shares of Pure Storage by 145.6% during the third quarter. Merit Financial Group LLC now owns 25,943 shares of the technology company’s stock worth $2,174,000 after purchasing an additional 15,382 shares during the period. Oak Thistle LLC bought a new position in Pure Storage during the third quarter worth about $1,653,000. Brighton Jones LLC bought a new position in Pure Storage during the second quarter worth about $359,000. Norges Bank acquired a new position in shares of Pure Storage during the 2nd quarter worth about $225,203,000. Finally, Peregrine Capital Management LLC increased its stake in shares of Pure Storage by 16.6% in the 2nd quarter. Peregrine Capital Management LLC now owns 191,874 shares of the technology company’s stock valued at $11,048,000 after acquiring an additional 27,279 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Trading Down 2.3%

Shares of NYSE PSTG opened at $69.79 on Friday. The company has a fifty day moving average price of $73.33 and a 200 day moving average price of $75.05. The firm has a market cap of $23.04 billion, a PE ratio of 183.65, a PEG ratio of 7.93 and a beta of 1.26. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $100.59.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. The firm had revenue of $763.77 million for the quarter. Pure Storage had a return on equity of 10.60% and a net margin of 3.74%. Equities research analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Buying and Selling

In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $71.31, for a total transaction of $7,131,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the sale, the insider directly owned 215,091 shares in the company, valued at approximately $14,441,209.74. This represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 207,178 shares of company stock worth $16,771,931. 5.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PSTG shares. Northland Securities set a $77.00 price objective on shares of Pure Storage in a research note on Wednesday, December 3rd. TD Cowen reissued a “buy” rating on shares of Pure Storage in a research report on Wednesday, December 3rd. Wells Fargo & Company upped their price objective on shares of Pure Storage from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Citigroup dropped their price objective on Pure Storage from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, December 3rd. Finally, Lake Street Capital increased their price target on Pure Storage from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.26.

Pure Storage Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.