Jump Financial LLC Purchases 83,202 Shares of Pure Storage, Inc. (NYSE:PSTG)

Jump Financial LLC boosted its position in shares of Pure Storage, Inc. (NYSE:PSTGFree Report) by 364.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,002 shares of the technology company’s stock after buying an additional 83,202 shares during the period. Jump Financial LLC’s holdings in Pure Storage were worth $3,776,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSTG. Cambridge Investment Research Advisors Inc. boosted its stake in Pure Storage by 121.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,660 shares of the technology company’s stock valued at $765,000 after buying an additional 11,891 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Pure Storage in the 1st quarter valued at approximately $233,000. MetLife Investment Management LLC bought a new stake in shares of Pure Storage in the 1st quarter valued at approximately $596,000. Synovus Financial Corp lifted its stake in shares of Pure Storage by 1.7% in the 1st quarter. Synovus Financial Corp now owns 43,894 shares of the technology company’s stock valued at $1,547,000 after purchasing an additional 744 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Pure Storage by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,035,914 shares of the technology company’s stock valued at $36,582,000 after purchasing an additional 6,756 shares during the last quarter. 82.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PSTG. TD Cowen lowered their price objective on Pure Storage from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, November 30th. JPMorgan Chase & Co. reduced their price target on Pure Storage from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, November 30th. Wedbush reduced their price target on Pure Storage from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, November 30th. TheStreet upgraded Pure Storage from a “c” rating to a “b-” rating in a report on Wednesday, November 29th. Finally, StockNews.com initiated coverage on Pure Storage in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.94.

Read Our Latest Research Report on Pure Storage

Insider Transactions at Pure Storage

In other news, Director Roxanne Taylor sold 16,216 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $37.05, for a total value of $600,802.80. Following the completion of the sale, the director now owns 55,743 shares of the company’s stock, valued at approximately $2,065,278.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pure Storage news, Director Gregory Tomb sold 8,475 shares of Pure Storage stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $32.53, for a total transaction of $275,691.75. Following the completion of the sale, the director now owns 30,612 shares of the company’s stock, valued at approximately $995,808.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Roxanne Taylor sold 16,216 shares of Pure Storage stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $37.05, for a total value of $600,802.80. Following the sale, the director now directly owns 55,743 shares of the company’s stock, valued at approximately $2,065,278.15. The disclosure for this sale can be found here. Insiders own 6.50% of the company’s stock.

Pure Storage Stock Down 0.8 %

Shares of NYSE PSTG opened at $41.14 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.78 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $13.00 billion, a PE ratio of 216.54, a price-to-earnings-growth ratio of 8.64 and a beta of 1.11. The stock’s fifty day simple moving average is $36.56 and its two-hundred day simple moving average is $36.35. Pure Storage, Inc. has a 12-month low of $22.14 and a 12-month high of $42.48.

Pure Storage (NYSE:PSTGGet Free Report) last posted its quarterly earnings data on Wednesday, November 29th. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $762.80 million during the quarter, compared to analysts’ expectations of $761.49 million. Pure Storage had a return on equity of 13.10% and a net margin of 2.47%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. As a group, analysts expect that Pure Storage, Inc. will post 0.31 EPS for the current fiscal year.

About Pure Storage

(Free Report)

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

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

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