Jennison Associates LLC Has $18.99 Million Holdings in Pure Storage Inc (NYSE:PSTG)

Jennison Associates LLC raised its position in Pure Storage Inc (NYSE:PSTG) by 0.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 871,694 shares of the technology company’s stock after purchasing an additional 1,182 shares during the quarter. Jennison Associates LLC owned 0.36% of Pure Storage worth $18,994,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PSTG. IFG Advisory LLC increased its position in shares of Pure Storage by 1.0% during the first quarter. IFG Advisory LLC now owns 56,172 shares of the technology company’s stock worth $1,223,000 after acquiring an additional 536 shares during the period. WealthTrust Fairport LLC boosted its stake in Pure Storage by 19.6% in the fourth quarter. WealthTrust Fairport LLC now owns 7,278 shares of the technology company’s stock valued at $117,000 after acquiring an additional 1,192 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Pure Storage by 0.5% during the first quarter. California State Teachers Retirement System now owns 260,242 shares of the technology company’s stock worth $5,671,000 after buying an additional 1,279 shares during the period. Sonora Investment Management LLC raised its holdings in Pure Storage by 68.1% during the first quarter. Sonora Investment Management LLC now owns 3,210 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,300 shares in the last quarter. Finally, GAM Holding AG raised its holdings in Pure Storage by 0.9% during the first quarter. GAM Holding AG now owns 154,609 shares of the technology company’s stock worth $3,369,000 after purchasing an additional 1,435 shares in the last quarter. 79.10% of the stock is currently owned by institutional investors.

Shares of NYSE PSTG traded up $0.34 during trading hours on Monday, hitting $15.61. 3,090,800 shares of the stock were exchanged, compared to its average volume of 3,589,709. Pure Storage Inc has a one year low of $13.99 and a one year high of $29.14. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -22.38 and a beta of 1.81. The company has a quick ratio of 3.25, a current ratio of 3.35 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $17.08.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, May 21st. The technology company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.08). The business had revenue of $326.70 million during the quarter, compared to analyst estimates of $333.83 million. Pure Storage had a negative net margin of 14.99% and a negative return on equity of 25.55%. On average, analysts anticipate that Pure Storage Inc will post -0.79 EPS for the current year.

A number of research analysts have recently weighed in on the stock. Credit Suisse Group assumed coverage on shares of Pure Storage in a research note on Thursday, April 11th. They set a “neutral” rating and a $23.00 price objective for the company. Cowen raised shares of Pure Storage from a “market perform” rating to an “outperform” rating and raised their target price for the company from $20.00 to $30.00 in a research note on Monday, April 8th. Wells Fargo & Co dropped their price target on shares of Pure Storage from $30.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. TheStreet downgraded shares of Pure Storage from a “c-” rating to a “d+” rating in a research note on Thursday. Finally, Zacks Investment Research downgraded shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $24.83.

In other Pure Storage news, CFO Timothy Riitters sold 10,420 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $15.65, for a total transaction of $163,073.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Scott Dietzen sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $23.05, for a total transaction of $2,305,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 164,260 shares of company stock valued at $3,537,743 in the last quarter. 10.00% of the stock is currently owned by corporate insiders.

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 and Artificial Intelligence Ready Infrastructure converged infrastructure solutions.

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

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