Westfield Capital Management Co. LP Purchases 225,949 Shares of Pure Storage, Inc. (NYSE:PSTG)

Westfield Capital Management Co. LP boosted its position in Pure Storage, Inc. (NYSE:PSTG) by 29.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 995,019 shares of the technology company’s stock after purchasing an additional 225,949 shares during the quarter. Westfield Capital Management Co. LP owned about 0.30% of Pure Storage worth $49,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of PSTG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after acquiring an additional 747,034 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Pure Storage by 56.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock valued at $237,345,000 after purchasing an additional 1,327,873 shares during the last quarter. Blair William & Co. IL increased its position in shares of Pure Storage by 0.7% during the 2nd quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock valued at $151,405,000 after purchasing an additional 15,747 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Pure Storage by 12.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock valued at $143,470,000 after buying an additional 249,761 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Pure Storage by 22.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,303,863 shares of the technology company’s stock worth $83,728,000 after buying an additional 235,356 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on PSTG shares. Oppenheimer assumed coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. William Blair restated an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Piper Sandler decreased their price objective on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Guggenheim increased their target price on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $67.95.

Pure Storage Trading Up 0.2 %

NYSE PSTG opened at $51.66 on Monday. The stock’s fifty day moving average price is $51.70 and its 200-day moving average price is $56.89. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The stock has a market cap of $16.93 billion, a P/E ratio of 129.15, a P/E/G ratio of 7.01 and a beta of 1.10. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The business had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. As a group, equities analysts forecast that Pure Storage, Inc. will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now owns 500,000 shares of the company’s stock, valued at $24,970,000. This trade represents a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mona Chu sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the transaction, the chief accounting officer now owns 96,639 shares in the company, valued at approximately $4,862,874.48. This trade represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 354,542 shares of company stock worth $18,599,030 in the last three months. Insiders own 6.00% of the company’s stock.

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.