JB Capital LLC Buys 2,659 Shares of Pure Storage, Inc. (NYSE:PSTG)

JB Capital LLC lifted its stake in Pure Storage, Inc. (NYSE:PSTGFree Report) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,847 shares of the technology company’s stock after acquiring an additional 2,659 shares during the period. JB Capital LLC’s holdings in Pure Storage were worth $1,136,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. FMR LLC grew its stake in Pure Storage by 1.4% during the 3rd quarter. FMR LLC now owns 46,793,394 shares of the technology company’s stock worth $1,666,781,000 after buying an additional 663,465 shares during the last quarter. Vanguard Group Inc. grew its stake in Pure Storage by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 27,369,119 shares of the technology company’s stock worth $966,403,000 after buying an additional 203,732 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Pure Storage by 24.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,091,077 shares of the technology company’s stock worth $359,464,000 after buying an additional 2,807,489 shares during the last quarter. Morgan Stanley grew its stake in Pure Storage by 3.4% during the 3rd quarter. Morgan Stanley now owns 4,296,843 shares of the technology company’s stock worth $153,054,000 after buying an additional 140,541 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its stake in Pure Storage by 33.8% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,068,672 shares of the technology company’s stock worth $144,926,000 after buying an additional 1,028,104 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several research analyst reports. TD Cowen boosted their target price on Pure Storage from $42.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Wedbush reiterated an “outperform” rating and set a $50.00 price target on shares of Pure Storage in a research note on Thursday, February 29th. Morgan Stanley boosted their price target on Pure Storage from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Barclays boosted their price target on Pure Storage from $42.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Needham & Company LLC initiated coverage on Pure Storage in a research note on Wednesday, March 6th. They set a “buy” rating and a $66.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and an average price target of $49.72.

Read Our Latest Stock Analysis on PSTG

Pure Storage Stock Performance

Shares of PSTG traded down $1.51 during mid-day trading on Tuesday, reaching $50.55. The company had a trading volume of 519,537 shares, compared to its average volume of 4,948,449. Pure Storage, Inc. has a 52-week low of $22.14 and a 52-week high of $58.46. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $15.97 billion, a P/E ratio of 306.19, a PEG ratio of 6.53 and a beta of 1.15. The stock has a 50 day moving average of $46.95 and a two-hundred day moving average of $39.51.

Pure Storage (NYSE:PSTGGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10. The company had revenue of $789.81 million during the quarter, compared to analysts’ expectations of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. Pure Storage’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, analysts expect that Pure Storage, Inc. will post 0.45 earnings per share for the current 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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