New York State Teachers Retirement System Has $24.88 Million Stock Position in Pure Storage, Inc. $PSTG

by · The Markets Daily

New York State Teachers Retirement System cut its holdings in shares of Pure Storage, Inc. (NYSE:PSTG – Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 296,842 shares of the technology company’s stock after selling 8,029 shares during the period. New York State Teachers Retirement System’s holdings in Pure Storage were worth $24,878,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Pure Storage by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,756 shares of the technology company’s stock valued at $3,667,000 after buying an additional 152 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Pure Storage by 11.8% during the third quarter. Global Retirement Partners LLC now owns 1,530 shares of the technology company’s stock worth $128,000 after buying an additional 162 shares during the period. Outfitters Financial LLC grew its stake in shares of Pure Storage by 1.3% during the 3rd quarter. Outfitters Financial LLC now owns 13,860 shares of the technology company’s stock worth $1,162,000 after acquiring an additional 175 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of Pure Storage by 11.8% in the second quarter. Penserra Capital Management LLC now owns 1,666 shares of the technology company’s stock worth $95,000 after purchasing an additional 176 shares in the last quarter. Finally, Wedmont Private Capital boosted its holdings in Pure Storage by 4.8% during the third quarter. Wedmont Private Capital now owns 3,991 shares of the technology company’s stock worth $351,000 after purchasing an additional 182 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $71.31, for a total value of $7,131,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the sale, the insider directly owned 215,091 shares in the company, valued at $14,441,209.74. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 207,178 shares of company stock valued at $16,771,931 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSTG. Raymond James Financial increased their price objective on shares of Pure Storage from $88.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Wedbush upped their price objective on Pure Storage from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Morgan Stanley set a $83.00 target price on shares of Pure Storage in a research note on Wednesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Pure Storage in a report on Wednesday, December 3rd. Finally, Guggenheim boosted their target price on Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $95.26.

Check Out Our Latest Research Report on Pure Storage

Pure Storage Price Performance

Shares of NYSE PSTG opened at $72.38 on Tuesday. The business has a fifty day moving average price of $76.61 and a two-hundred day moving average price of $74.32. The stock has a market capitalization of $23.90 billion, a PE ratio of 190.47, a P/E/G ratio of 7.44 and a beta of 1.26. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $100.59.

Pure Storage (NYSE:PSTG – Get Free Report) last issued its quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. Pure Storage had a return on equity of 10.60% and a net margin of 3.74%.The company had revenue of $763.77 million for the quarter. On average, equities analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

Pure Storage Profile

(Free Report)

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.

See Also

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