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

Geronimo Vena
Agosto 12, 2017

Alliancebernstein L.P. maintained its position in shares of Pure Storage, Inc. The fund owned 98,400 shares of the technology company's stock at the end of the first quarter. Renaissance Technologies LLC owned approximately 0.62% of Pure Storage worth $12,622,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Bank of Montreal Can acquired a new position in shares of Pure Storage during the first quarter worth approximately $1,894,000. Over the last ninety days, insiders have sold 2,312,246 shares of company stock valued at $30,410,081. Gradient Investments LLC increased its stake in Pure Storage by 10.3% in the second quarter. GSA Capital Partners LLP acquired a new stake in Pure Storage during the fourth quarter valued at $228,000. Lastly, State Street boosted its stake in stocks of Pure Storage by 4.4% in the Q4. Bank of New York Mellon Corp now owns 276,581 shares of the technology company's stock valued at $2,718,000 after buying an additional 23,682 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in shares of Pure Storage during the first quarter valued at about $462,000. Renaissance Technologies LLC purchased a new position in Pure Storage during the fourth quarter valued at $2,503,000. Finally, Point72 Asia Hong Kong Ltd increased its stake in Pure Storage by 34.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 13,815 shares of the technology company's stock valued at $136,000 after buying an additional 3,557 shares during the period. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Moreover, Zevenbergen Capital Investments Llc has 1.92% invested in the company for 684,015 shares.

Among 25 analysts covering Pure Storage (NYSE:PSTG), 16 have Buy rating, 0 Sell and 9 Hold. It is trading at $12.54 just a bit lower than the 50 day moving average of $13.01 and well above the 200 day moving average of $11.64. The company has market cap of $2.62 billion.

The stock of Pure Storage Inc (NYSE:PSTG) has "Equal-Weight" rating given on Friday, August 26 by Barclays Capital.

In 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 return on equity of 44.04% and a negative net margin of 31.62%. The business had revenue of $182.60 million during the quarter, compared to analyst estimates of $176.13 million. During the same period in the previous year, the company earned ($0.22) EPS. The company's revenue for the quarter was up 30.5% on a year-over-year basis. Equities research analysts forecast that Pure Storage, Inc. will post ($0.27) earnings per share for the current fiscal year.

WARNING: "Pure Storage, Inc".

Other hedge funds have also recently bought and sold shares of the company. If you are viewing this piece of content on another domain, it was stolen and republished in violation of USA & worldwide trademark and copyright legislation. The correct version of this article can be accessed at https://www.com-unik.info/2017/08/11/alliancebernstein-l-p-maintains-position-in-pure-storage-inc-nysepstg-updated.html. The rating was maintained by William Blair with "Outperform" on Friday, April 7. Finally, Vetr raised shares of Pure Storage from a "buy" rating to a "strong-buy" rating and set a $15.50 price target on the stock in a report on Wednesday, June 14th. 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of "Buy" and a consensus target price of $15.61. The shares were sold at an average price of $13.03, for a total transaction of $464,819.19. Following the completion of the transaction, the chief financial officer now directly owns 227,200 shares in the company, valued at $2,910,432. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

In other Pure Storage news, Director Michelangelo Volpi sold 19,086 shares of the firm's stock in a transaction that occurred on Friday, June 9th. The total value of its holdings increased 112.0%. The disclosure for this sale can be found here. Company insiders own 46.58% of the company's stock.

Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory. 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.

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