Fidelity Management & Research Co has recently announced that it has increased stake in Pure Storage Inc (NYSE:PSTG) by 2.09%. After grabbing 46.33 million shares, the institutional investor is now in possession of 0.95 million shares of the Technology Company. The new investment brought the stake of investor firm to 14.66% having worth around $1.65 billion. Moreover, BlackRock Fund Advisors increased its share by 94229.0 to have a control over 11.64 million shares. And BNP Paribas Asset Management USA, raised its holdings to 0.12 million shares by acquiring 4.67 million shares or 1.48% of the stake.
Pure Storage Inc (PSTG) concluded trading on Wednesday at a closing price of $41.94, with 4.15 million shares of worth about $174.12 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 8.29% during that period and On Wednesday, January 24 the price saw a gain of about 3.00%. Currently the company’s common shares owned by public are about 304.08M shares, out of which, 296.13M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 43 times over the past 12 months. They bought 1,164,559 shares in 14 of the transactions. In 29 selling transactions, insiders dumped 750,829 shares.
Fidelity Growth Company Fund, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Pure Storage Inc Fidelity Growth Company Fund is currently holding 14.21 million shares of worth totaling $506.89 million. The company recently came buying 69219.0 shares which brought its stake up to 4.50% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 0.19 million shares, after which its hold over company’s outstanding shares expand to 2.96%, leaving 9.35 million shares with the mutual fund that have a worth of about $333.47 million. Vanguard Small Cap Index Fund, after selling 7.55 million shares, have now control over 2.39% of the stake in the company. It holds 19953.0 shares of worth $269.13 million.
However, the stock later moved at a day high price of 42.48, or with a gain of 3.00%. Stock saw a price change of 13.44% in past 5 days and over the past one month there was a price change of 16.31%. Year-to-date (YTD), PSTG shares are showing a performance of 17.61% which increased to 55.05% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $22.14 but also hit the highest price of $42.08 during that period. The average intraday trading volume for Pure Storage Inc shares is 4.57 million. The stock is currently trading 12.97% above its 20-day simple moving average (SMA20), while that difference is up 16.10% for SMA50 and it goes to 23.55% higher than SMA200.
Fidelity Management & Research Co acquired 46.33 million shares of Pure Storage Inc having value of about $1.65 billion. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 0.95 million shares in the company valued at close to $39844132.38, or have control over 2.09% stake in the company. Pure Storage Inc (NYSE: PSTG) currently have 304.08M outstanding shares and institutions hold larger chunk of about 83.16% of that. Holding of mutual funds in the company is about 43.46% while other institutional holders and individual stake holders have control over 9.32% and 39.97% of the stake respectively.
The stock has a current market capitalization of $13.25B and its 3Y-monthly beta is at 1.11. PE ratio of stock for trailing 12 months is 221.90, while it has posted earnings per share of $0.19 in the same period. Its PEG reads 26.80 and has Quick Ratio of 1.72 while making debt-to-equity ratio of 0.24. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PSTG, volatility over the week remained 3.52% while standing at 2.95% over the month.
Analysts are in expectations that Pure Storage Inc (PSTG) stock would likely to be making an EPS of $Performance Shipping Inc. in the current quarter, while forecast for next quarter EPS is $1.99 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $NanoString Technologies, Inc. which is $Poseida Therapeutics, Inc. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Postal Realty Trust, Inc. in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -3.43% while it is estimated to increase by 11.88% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Guggenheim on December 07, 2023 offering a Buy rating for the stock and assigned a target price of $48 to it.
