Alliancebernstein LP Holds Position in Pure Storage, Inc. (NYSE:PSTG)

Alain Brian
Août 12, 2017

The value of the investment in Pure Storage, Inc. The firm owned 62,300 shares of the technology company's stock at the end of the first quarter.

Teachers Advisors, LLC says it bought 295,073 shares last quarter increasing its stake in Pure Storage, Inc. (NYSE:PSTG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). (PSTG) traded down 0.79% during trading on Thursday, reaching $12.55. TX acquired a new stake in Pure Storage during the first quarter valued at $150,000. The technology company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of ($0.22) by $0.08. Alliancebernstein L.p. now owns 160,000 shares worth $2,050,000. The company's market cap is $2.62 billion. Class A went from $967,000 to $2,050,000 a change of 112.0% quarter to quarter. State Street has an ownership of 1,129,901 stocks of the technology firms shares valued at $12,779,000 after scooping up an extra 47,633 shares through out the previous quarter, 34.45% of the shares is presently owned by large funds. The institutional investor owned 98,400 shares of the technology company's stock at the end of the first quarter. Teachers Advisors LLC now owns 783,785 shares of the technology company's stock valued at $7,705,000 after buying an additional 660,954 shares during the last quarter. Equities research analysts predict that Pure Storage, Inc. will post ($0.27) EPS for the current fiscal year.

A number of equities research analysts recently weighed in on the stock. Shares last traded at $12.54 which is slightly below the 50 day moving average of $13.01 and significantly above the 200 day moving average of $11.64.

The stock of Pure Storage Inc (NYSE:PSTG) earned "Buy" rating by Needham on Thursday, March 2. Boosts Position in Pure Storage, Inc. The company had revenue of $182.60 million for the quarter, compared to analysts' expectations of $176.13 million. Pure Storage had a negative net margin of 31.62% and a negative return on equity of 44.04%. The firm's revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.22) earnings per share. "MI ADV" was posted by BBNS and is owned by of BBNS. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & worldwide copyright and trademark law. If you are viewing this story on another site, it was illegally copied and reposted in violation of worldwide copyright laws. The original version of this story can be viewed at https://sportsperspectives.com/2017/08/10/swiss-national-bank-continues-to-hold-stake-in-pure-storage-inc-pstg-updated-updated-updated.html.

Several analysts have recently issued reports on the stock. Corporate insiders own 46.58% of the company's stock. Jefferies raised the price objective on Pure Storage from $10.00 to $11.50 and issued the shares a "hold" recommendation in a study on Thurs, May 25th. Following the transaction, the chief financial officer now directly owns 245,703 shares of the company's stock, valued at $3,223,623.36. Over the last 90 days, insiders sold 2,312,246 shares of company stock valued at $30,410,081. BidaskClub cut Pure Storage from a "buy" rating to a "hold" rating in a report on Saturday, June 10th. Robert W. Baird reiterated a "hold" rating on shares of Pure Storage in a research report on Thursday, April 13th. Finally, Pacific Crest reaffirmed an "overweight" rating and issued a $17.00 price target on shares of Pure Storage in a report on Friday, June 16th. BMO Capital Markets reissued a "buy" rating on shares of Pure Storage in a research report on Wednesday, June 14th. Pure Storage has a consensus rating of "Buy" and an average target price of $15.61.

In other Pure Storage news, CFO Timothy Riitters sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, June 1st. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The shares were sold at an average price of $13.15, for a total transaction of $18,738,750.00. The stock's average target of $68 is -2.58% below today's ($69.8) share price. The disclosure for this sale can be found here. 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.

Pure Storage, Inc provides a data platform. 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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