Pure Storage, Inc. (PSTG) Position Boosted by The Manufacturers Life Insurance Company

The stock stands almost -0.53% off versus the 52-week high and 83.99% away from the 52-week low. Zacks Investment Research's earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Pure Storage.

Pure Storage, Inc. (NYSE:PSTG) has a 20-day RSI of 63.81%. The technology company reported ($0.11) EPS for the quarter, topping the Zacks' consensus estimate of ($0.31) by $0.20. The company had revenue of $224.50 million for the quarter, compared to the consensus estimate of $217.97 million. Pure Storage had a negative return on equity of 46.12% and a negative net margin of 29.55%. Swiss National Bank purchased a new position in Pure Storage during the second quarter worth about $743,000. During the same quarter in the prior year, the company earned ($0.16) earnings per share. Morgan Stanley restated a "buy" rating and set a $21.00 price target on shares of Pure Storage in a research note on Monday, September 12th. The rating was initiated by Sterne Agee CRT on Wednesday, November 11 with "Neutral". Vetr downgraded Pure Storage from a "strong-buy" rating to a "buy" rating and set a $12.72 price target on the stock.in a research note on Tuesday, August 30th. If you are viewing this report on another website, it was illegally stolen and reposted in violation of USA and global copyright & trademark law. The correct version of this piece can be read at https://www.truebluetribune.com/2017/11/14/pure-storage-inc-pstg-position-boosted-by-the-manufacturers-life-insurance-company.html.

In other Pure Storage news, President David Hatfield sold 70,000 shares of the stock in a transaction on Wednesday, October 18th. The stock decreased 0.06% or $0.01 on November 14, reaching $16.77. Following the completion of the sale, the president now owns 215,190 shares in the company, valued at $3,154,685.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Riitters sold 5,000 shares of the firm's stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $16.35, for a total value of $1,144,500.00. Insiders have sold a total of 242,028 shares of company stock valued at $3,773,235 over the last quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PSTG. In the a year ago there have been a total of 62 insider trades, including 21 open market buys and 41 sells. Renaissance Technologies LLC increased its stake in shares of Pure Storage by 480.2% during the first quarter. Renaissance Technologies LLC now owns 1,284,000 shares of the technology company's stock worth $12,622,000 after purchasing an additional 1,062,700 shares during the last quarter. Bank of New York Mellon Corp increased its position in Pure Storage by 140.8% in the second quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company's stock worth $90,427,000 after purchasing an additional 1,489,008 shares during the last quarter.

The Manufacturers Life Insurance Company increased its stake in Pure Storage, Inc. Ameriprise Financial Inc. now owns 26,350 shares of the technology company's stock worth $259,000 after acquiring an additional 6,500 shares during the period. BlackRock Advisors LLC's holdings in Pure Storage were worth $56,849,000 at the end of the most recent quarter. JPMorgan Chase & Co. now owns 69,105 shares of the technology company's stock worth $679,000 after acquiring an additional 24,817 shares during the period. Pure Storage has a consensus rating of "Buy" and a consensus price target of $16.56. PSTG's average trading volume during the past 20 days is higher than the average volume over the past 100 days, which could be an indication that investors are feeling more certain than usual about the direction of PSTG's future price movements. During the last 52 weeks, the (NYSE:PSTG) price has been as high as $16.87 and as low as $9.12.

Insider Trading Activity for Pure Storage, Inc. 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.