Dynamic Technology Lab Private Ltd acquired a new position in Pure Storage Inc (NYSE:PSTG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 16,888 shares of the technology company’s stock, valued at approximately $269,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. raised its position in shares of Pure Storage by 38.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock worth $105,000 after acquiring an additional 2,284 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Pure Storage by 641.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock worth $149,000 after acquiring an additional 10,078 shares in the last quarter. Amalgamated Bank bought a new position in shares of Pure Storage in the 2nd quarter worth approximately $151,000. Principal Financial Group Inc. bought a new position in shares of Pure Storage in the 2nd quarter worth approximately $166,000. Finally, Verition Fund Management LLC bought a new position in shares of Pure Storage in the 2nd quarter worth approximately $184,000. Institutional investors and hedge funds own 38.46% of the company’s stock.
Pure Storage Inc (PSTG) traded up $0.50 during mid-day trading on Wednesday, reaching $17.04. The company had a trading volume of 2,593,700 shares, compared to its average volume of 1,772,799. Pure Storage Inc has a one year low of $9.12 and a one year high of $19.27.
In related news, President David Hatfield sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $14.66, for a total transaction of $439,800.00. Following the completion of the transaction, the president now owns 215,190 shares of the company’s stock, valued at approximately $3,154,685.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Timothy Riitters sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $15.85, for a total value of $396,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 317,028 shares of company stock valued at $5,304,635. 41.47% of the stock is owned by corporate insiders.
PSTG has been the subject of several research reports. BTIG Research increased their target price on Pure Storage from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. ValuEngine lowered Pure Storage from a “hold” rating to a “sell” rating in a research report on Monday, September 11th. BidaskClub lowered Pure Storage from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. Wells Fargo & Company initiated coverage on Pure Storage in a research report on Tuesday, November 14th. They issued an “outperform” rating and a $22.00 target price for the company. Finally, UBS reissued a “buy” rating and issued a $18.00 target price (up previously from $15.00) on shares of Pure Storage in a research report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Pure Storage currently has a consensus rating of “Buy” and an average target price of $18.55.
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Pure Storage Profile
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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