Calamos Advisors LLC Acquires 21,647 Shares of Pure Storage, Inc. (NYSE:PSTG)

Calamos Advisors LLC increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 62.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,075 shares of the technology company’s stock after purchasing an additional 21,647 shares during the quarter. Calamos Advisors LLC’s holdings in Pure Storage were worth $3,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PSTG. Norges Bank purchased a new position in shares of Pure Storage during the fourth quarter valued at approximately $115,452,000. Principal Financial Group Inc. increased its holdings in Pure Storage by 4,095.7% during the first quarter. Principal Financial Group Inc. now owns 1,121,344 shares of the technology company’s stock valued at $58,299,000 after buying an additional 1,094,618 shares during the last quarter. Frontier Capital Management Co. LLC increased its holdings in Pure Storage by 835.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,078,454 shares of the technology company’s stock valued at $38,458,000 after buying an additional 963,140 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in Pure Storage by 83.9% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,068,255 shares of the technology company’s stock valued at $73,733,000 after buying an additional 943,850 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Pure Storage by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 31,294,297 shares of the technology company’s stock valued at $1,115,955,000 after buying an additional 567,358 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. UBS Group cut shares of Pure Storage from a “neutral” rating to a “sell” rating and upped their target price for the company from $44.00 to $47.00 in a report on Tuesday, July 2nd. TD Cowen upped their target price on shares of Pure Storage from $60.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Stifel Nicolaus increased their price objective on shares of Pure Storage from $46.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Wells Fargo & Company increased their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $80.00 price objective on shares of Pure Storage in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.65.

Insiders Place Their Bets

In other Pure Storage news, CRO Dan Fitzsimons sold 9,881 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $59.32, for a total transaction of $586,140.92. Following the sale, the executive now directly owns 115,601 shares in the company, valued at $6,857,451.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CRO Dan Fitzsimons sold 9,881 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $59.32, for a total transaction of $586,140.92. Following the sale, the executive now directly owns 115,601 shares in the company, valued at $6,857,451.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the sale, the insider now owns 700,000 shares in the company, valued at $43,232,000. The disclosure for this sale can be found here. Insiders have sold 328,995 shares of company stock worth $19,175,193 over the last three months. Company insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

PSTG traded up $0.61 on Friday, hitting $61.56. 2,382,566 shares of the company’s stock were exchanged, compared to its average volume of 3,869,910. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The company has a current ratio of 2.00, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $61.51 and a 200-day moving average price of $56.32. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of 219.86, a P/E/G ratio of 6.29 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, May 29th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm 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 anticipate that Pure Storage, Inc. will post 0.47 earnings per share for the current year.

Pure Storage 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.