Texas Permanent School Fund Corp Takes $13.51 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Texas Permanent School Fund Corp bought a new stake in Pure Storage, Inc. (NYSE:PSTG) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 259,944 shares of the technology company’s stock, valued at approximately $13,514,000. Texas Permanent School Fund Corp owned approximately 0.08% of Pure Storage as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PSTG. Franklin Resources Inc. lifted its holdings in shares of Pure Storage by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 54,073 shares of the technology company’s stock valued at $1,928,000 after purchasing an additional 242 shares in the last quarter. DecisionPoint Financial LLC lifted its holdings in shares of Pure Storage by 53.3% in the first quarter. DecisionPoint Financial LLC now owns 1,150 shares of the technology company’s stock valued at $61,000 after purchasing an additional 400 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Pure Storage by 295.6% in the first quarter. Lindbrook Capital LLC now owns 633 shares of the technology company’s stock valued at $33,000 after purchasing an additional 473 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Pure Storage in the first quarter valued at about $25,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Pure Storage in the first quarter valued at about $27,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, Director Mallun Yen sold 4,818 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $64.78, for a total transaction of $312,110.04. Following the transaction, the director now owns 35,498 shares of the company’s stock, valued at approximately $2,299,560.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Mallun Yen sold 4,818 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $64.78, for a total transaction of $312,110.04. Following the completion of the transaction, the director now owns 35,498 shares in the company, valued at approximately $2,299,560.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 29,283 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the transaction, the executive now owns 138,105 shares of the company’s stock, valued at approximately $7,200,794.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,247 shares of company stock valued at $4,633,671. Company insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

Shares of PSTG stock traded down $0.14 during trading hours on Friday, reaching $65.17. The stock had a trading volume of 148,335 shares, compared to its average volume of 4,181,062. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.96. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The firm has a 50-day simple moving average of $62.13 and a 200-day simple moving average of $51.59. The firm has a market capitalization of $21.20 billion, a PE ratio of 233.25, a price-to-earnings-growth ratio of 6.82 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $693.48 million for the quarter, compared to analysts’ expectations of $681.37 million. Pure Storage had a net margin of 3.19% and a return on equity of 15.34%. As a group, equities analysts forecast that Pure Storage, Inc. will post 0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several recent research reports. Northland Securities downgraded shares of Pure Storage from an “outperform” rating to a “market perform” rating and upped their price target for the company from $58.00 to $68.00 in a report on Thursday, May 30th. Wedbush reaffirmed an “outperform” rating and issued a $70.00 price target (up previously from $50.00) on shares of Pure Storage in a report on Tuesday, May 28th. JPMorgan Chase & Co. boosted their price objective on shares of Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Stifel Nicolaus boosted their price objective on shares of Pure Storage from $46.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Finally, TD Cowen boosted their price objective on shares of Pure Storage from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $69.11.

Pure Storage Company Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.