Emerald Mutual Fund Advisers Trust lessened its stake in Pure Storage Inc (NYSE:PSTG) by 34.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 423,139 shares of the technology company’s stock after selling 224,471 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.18% of Pure Storage worth $6,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. purchased a new position in Pure Storage in the 4th quarter worth approximately $27,000. Bigelow Investment Advisors LLC lifted its holdings in Pure Storage by 12.6% in the 4th quarter. Bigelow Investment Advisors LLC now owns 21,850 shares of the technology company’s stock worth $351,000 after purchasing an additional 2,450 shares in the last quarter. S&CO Inc. lifted its holdings in Pure Storage by 44.2% in the 4th quarter. S&CO Inc. now owns 195,633 shares of the technology company’s stock worth $3,146,000 after purchasing an additional 60,000 shares in the last quarter. Close Asset Management Ltd lifted its holdings in Pure Storage by 1,157.1% in the 4th quarter. Close Asset Management Ltd now owns 4,400 shares of the technology company’s stock worth $318,000 after purchasing an additional 4,050 shares in the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new position in Pure Storage in the 4th quarter worth approximately $13,894,000. Institutional investors and hedge funds own 72.84% of the company’s stock.
PSTG opened at $19.32 on Wednesday. Pure Storage Inc has a 12-month low of $13.99 and a 12-month high of $29.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.52 and a current ratio of 3.64. The firm has a market cap of $4.65 billion, a PE ratio of -23.00 and a beta of 1.66.
Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Monday, November 19th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. Pure Storage had a negative return on equity of 23.88% and a negative net margin of 12.89%. The business had revenue of $372.80 million for the quarter, compared to the consensus estimate of $367.37 million. During the same quarter in the prior year, the company earned ($0.01) EPS. The business’s revenue was up 34.3% compared to the same quarter last year. On average, equities analysts expect that Pure Storage Inc will post -0.58 EPS for the current year.
Several analysts have recently issued reports on PSTG shares. ValuEngine cut Pure Storage from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. Morgan Stanley increased their price target on Pure Storage from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, November 20th. Wolfe Research started coverage on Pure Storage in a report on Tuesday, December 11th. They set an “outperform” rating and a $25.00 price target on the stock. Cowen started coverage on Pure Storage in a research report on Tuesday, December 11th. They issued a “market perform” rating and a $20.00 price objective on the stock. Finally, Oppenheimer set a $26.00 price objective on Pure Storage and gave the company a “buy” rating in a research report on Monday, November 19th. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Pure Storage currently has a consensus rating of “Buy” and an average target price of $26.02.
In related news, CFO Timothy Riitters sold 30,000 shares of the company’s stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $16.61, for a total transaction of $498,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.30% of the stock is currently owned by corporate insiders.
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Pure Storage Profile
Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.
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