Summit Global Investments Boosts Investment in Pure Storage, Signaling Confidence in Tech Sector

August 10, 2023

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Summit Global Investments has signified its trust in the tech sector by heightening its investment in Pure Storage ($NYSE:PSTG), Inc. on August 4, 2023. Pure Storage, Inc. is a leading provider of enterprise data storage solutions, delivering high-performance storage solutions that are reliable, efficient, and secure for organizations of all sizes. The company’s products provide a high-performance platform for modern workloads ranging from cloud-native applications, databases, virtualized workloads, and AI/ML. As an essential part of the IT infrastructure, Pure Storage helps customers increase agility, efficiency, performance, and reliability while minimizing IT complexity and costs.

Summit Global Investments’ increased stake in Pure Storage indicates that the company is confident in the technology sector and the continued growth projections for Pure Storage. This increased investment is likely to give investors more confidence that Pure Storage is well-positioned to benefit from the trend of digital transformation. This move from Summit Global Investments is sure to bolster confidence among investors who are looking for a reliable tech stock to add to their portfolios.

Stock Price

On Monday, Summit Global Investments, a large investment firm, announced that it had boosted its investment in Pure Storage, the cloud-based data platform company. This move signals confidence in the tech sector and could be seen as a positive sign for the industry. The stock price of Pure Storage opened at $37.8 Monday morning and closed at $37.7, representing a 0.3% increase from its last closing price of $37.6. This is in stark contrast to the declines seen across the tech sector over the past few weeks, indicating that investors are taking a long-term view of the industry. Summit Global’s decision to invest in Pure Storage reflects its optimism that the company will continue to perform well in the future.

It is an acknowledgement of the innovative solutions Pure Storage provides to customers worldwide, and shows that investors are confident in the company’s ability to deliver value. Overall, it appears that Summit Global’s move is one of many signs of increasing confidence in the tech sector, which is good news for investors and companies alike. As more investors look to build positions in tech companies like Pure Storage, the sector could be poised for a rebound in the near future. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Pure Storage. More…

    Total Revenues Net Income Net Margin
    2.72k 17.2 0.7%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Pure Storage. More…

    Operations Investing Financing
    720.35 -136.33 -661.56
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Pure Storage. More…

    Total Assets Total Liabilities Book Value Per Share
    2.96k 2.05k 2.96
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Pure Storage are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    17.4% 1.7%
    FCF Margin ROE ROA
    20.0% 3.2% 1.0%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    At GoodWhale, we recently conducted an analysis of PURE STORAGE‘s fundamentals. Based on our Risk Rating, we determined that PURE STORAGE represents a medium risk investment, in terms of both financial and business aspects. We uncovered three risk warnings in the balance sheet, cashflow statement, and non-financial sources. To view these warnings, simply register on Once registered, you can access our detailed report on PURE STORAGE. This report will provide more insight into the risks associated with this investment, as well as our unique perspective on the strengths and potential opportunities of the company. We hope that this report serves as a valuable resource for anyone considering investing in PURE STORAGE. Our goal is to help investors make informed decisions, and we look forward to assisting you in any way possible. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis

  • Peers

    Its competitors, Cambex Corp, Wiwynn Corp, and NetApp Inc, are all providers of flash-based storage solutions.

    – Cambex Corp ($OTCPK:CBEX)

    Cambex Corp is a publicly traded company with a market capitalization of 468.58k as of 2022. The company has a return on equity of -9.55%. Cambex Corp is engaged in the business of providing engineering and environmental consulting services.

    – Wiwynn Corp ($TWSE:6669)

    Wiwynn Corp is a leading provider of data center solutions. Its products and services are used by some of the largest companies in the world. The company has a market cap of 113.47B as of 2022 and a return on equity of 29.23%. Wiwynn is a publicly traded company on the Nasdaq Stock Market under the ticker symbol WYNN.

    – NetApp Inc ($NASDAQ:NTAP)

    NetApp Inc. is a publicly traded data storage and data management company headquartered in Sunnyvale, California. The company offers a variety of software-defined storage and data management solutions for on-premises and cloud environments. NetApp was founded in 1992 and went public in 1995. The company has a market capitalization of $13.58 billion as of 2022 and a return on equity of 100.42%. NetApp’s products and services are used by a variety of customers, including enterprise, government, and education organizations.


    Summit Global Investments has recently increased its interest in technology giant Pure Storage, with an increased stake in the company’s stocks. This demonstrates a continued confidence in the sector, as Pure Storage continues to provide innovative solutions and services to its customers. By investing in Pure Storage, Summit Global Investments is taking advantage of the potential for growth and profits that come from investing in this cutting-edge technology. Analysts believe that the company is well-positioned to benefit from the continued growth of the technology sector and that its share price could climb further in the future.

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