Renaissance Technologies LLC Acquires 1062700 Shares of Pure Storage, Inc. (PSTG)

Rodiano Bonacci
Agosto 12, 2017

The firm owned 26,350 shares of the technology company's stock after buying an additional 6,500 shares during the period. Bank of New York Mellon Corp increased its position in Pure Storage by 9.4% in the first quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSTG. (NYSE:PSTG) traded up 1.04% during midday trading on Friday, reaching $12.67. 926,347 shares of the company traded hands. Finally, State Street Corp increased its position in shares of Pure Storage by 4.4% in the fourth quarter. Gradient Investments LLC increased its stake in Pure Storage by 10.3% in the second quarter. Alliancebernstein L.p. now holds 160,000 shares with a value of $2,050,000. GSA Capital Partners LLP purchased a new position in Pure Storage during the fourth quarter worth approximately $228,000. Quantbot Technologies LP now owns 34,256 shares of the technology company's stock valued at $336,000 after buying an additional 2,582 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Pure Storage by 13.3% in the first quarter. Geode Capital Management LLC now owns 581,146 shares of the technology company's stock valued at $5,712,000 after buying an additional 68,290 shares during the last quarter.

Ameriprise Financial Inc. boosted its stake in Pure Storage, Inc. (NYSE:PSTG) opened at 12.65 on Thursday. The company's 50 day moving average price is $13.00 and its 200-day moving average price is $11.64. The company has market cap of $2.62 billion. Pure Storage has a average recommendation of "Buy" and a consensus price objective of $15.61.

Pure Storage (NYSE:PSTG) previously announced its periodic earnings reports on early Wed, May 24th.

As of the latest earnings report the EPS was $-1.23 and is expected to be $-0.27 for the current year with 208,705,000 shares now outstanding. Pure Storage had a negative net margin of 31.62% and a negative return on equity of 44.04%. The company had revenue of $182.60 million during the quarter, compared to analyst estimates of $176.13 million. Pure Storage's revenue for the quarter was up 30.5% compared to the same quarter a year ago. After $-0.30 actual EPS reported by Pure Storage Inc for the previous quarter, Wall Street now forecasts 3.33 % negative EPS growth. Pure Storage earned a daily sentiment score of 0.26 on Accern's scale.

PSTG has been the discussion subject of many recent brokerage firm research. "MI ADV" was posted by BBNS and is owned by of BBNS. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of United States & global trademark & copyright legislation. The legal version of this piece can be read at https://www.chaffeybreeze.com/2017/08/11/morgan-stanley-has-7-89-million-stake-in-pure-storage-inc-pstg-updated.html.

Several equities research analysts have weighed in on the stock. BidaskClub cut shares of Pure Storage from a "buy" rating to a "hold" rating in a research note on Saturday, June 10th. Robert W. Baird reissued a "hold" rating on shares of Pure Storage in a research report on Thursday, April 13th. Wells Fargo & Company reissued a "market perform" rating on shares of Pure Storage in a report on Friday, June 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Pure Storage has a consensus rating of "Buy" and an average target price of $15.61. Class A went from $967,000 to $2,050,000 a change of 112.0% quarter to quarter. The sale was disclosed in a filing with the SEC, which is accessible through this link.

In related news, CFO Timothy Riitters sold 10,248 shares of the business's stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $13.12, for a total transaction of $65,600.00. Following the transaction, the chief financial officer now directly owns 245,703 shares in the company, valued at approximately $3,223,623.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,312,246 shares of company stock valued at $30,410,081. 96,316 shares of the company's stock were exchanged.

Pure Storage, Inc provides a data platform. The Firm is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling clients to put data to work for their businesses. The Company's 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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