Shufro Rose & Co. LLC boosted its position in shares of Pure Storage Inc (NYSE:PSTG) by 47.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,500 shares of the technology company’s stock after purchasing an additional 12,400 shares during the quarter. Shufro Rose & Co. LLC’s holdings in Pure Storage were worth $588,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sageworth Trust Co bought a new stake in Pure Storage during the first quarter worth $37,000. Sonora Investment Management LLC raised its position 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 acquiring an additional 1,300 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Pure Storage during the first quarter worth $158,000. Oppenheimer Asset Management Inc. raised its position in Pure Storage by 466.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 9,361 shares of the technology company’s stock worth $204,000 after acquiring an additional 7,708 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY bought a new stake in Pure Storage during the first quarter worth $218,000. Hedge funds and other institutional investors own 79.23% of the company’s stock.
Several equities analysts have recently weighed in on the stock. ValuEngine lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Maxim Group reissued a “hold” rating and issued a $22.00 price objective on shares of Pure Storage in a research report on Thursday, May 23rd. KeyCorp dropped their price objective on shares of Pure Storage from $30.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Wells Fargo & Co decreased 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. Finally, Stifel Nicolaus decreased their price target on shares of Pure Storage from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, May 22nd. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $24.55.
NYSE PSTG traded down $0.45 during mid-day trading on Monday, hitting $13.16. The company’s stock had a trading volume of 1,741,290 shares, compared to its average volume of 3,643,813. The firm’s 50 day moving average price is $15.64. Pure Storage Inc has a twelve month low of $13.52 and a twelve month high of $29.14. 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 stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -18.80 and a beta of 1.80.
Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, May 21st. The technology company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate 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 predict that Pure Storage Inc will post -0.79 earnings per share for the current fiscal year.
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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