Richard Pzena’s 5 New Stock Picks

In this article, we discuss Richard Pzena’s 5 new stock picks. If you want our detailed analysis of Pzena’s history, investment philosophy, and hedge fund performance, go directly to Richard Pzena’s 9 New Stock Picks.

5. Pure Storage, Inc. (NYSE:PSTG)

Pzena Investment Management’s Stake Value: $449,000

Number of Hedge Fund Holders: 31

Pure Storage, Inc. (NYSE:PSTG) is an American technology company developing all-flash data storage hardware and software products. It has its own patented flash storage hardware as of 2015. Before becoming publicly listed in 2015, Pure Storage, Inc. (NYSE:PSTG) raised over $470 million in venture capital. The company is traded as a Russell 1000 Component. 

Pzena Capital Management owns 23,003 shares in Pure Storage, Inc. (NYSE:PSTG), amounting to $449,000. The tech company is one of the newest additions in Pzena’s 13F portfolio. 

At the end of Q2, 31 hedge funds observed by Insider Monkey were bullish on Pure Storage, Inc. (NYSE:PSTG), up from 30 in the previous quarter. 

On September 29, BofA analyst Wamsi Mohan kept a Buy rating on Pure Storage, Inc. (NYSE:PSTG), owing to the firm’s long-term goals for its subscription-based business and FY25 estimates, as well as the resultant higher profit and earnings estimates in 2023. The price target was set at $32, up from $28.