Diversified Trust Co Sells 5,818 Shares of Pure Storage, Inc. (NYSE:PSTG)

Diversified Trust Co decreased its holdings in Pure Storage, Inc. (NYSE:PSTG) by 6.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,349 shares of the technology company’s stock after selling 5,818 shares during the period. Diversified Trust Co’s holdings in Pure Storage were worth $4,385,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of PSTG. Naples Money Management LLC acquired a new position in shares of Pure Storage during the fourth quarter worth $25,000. Banque Cantonale Vaudoise acquired a new position in shares of Pure Storage during the first quarter worth $25,000. Principal Securities Inc. acquired a new position in shares of Pure Storage during the fourth quarter worth $31,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Pure Storage during the fourth quarter worth $45,000. Finally, Rise Advisors LLC acquired a new position in shares of Pure Storage during the first quarter worth $48,000. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PSTG. Needham & Company LLC reissued a “buy” rating and set a $80.00 price objective on shares of Pure Storage in a report on Friday, June 21st. Raymond James boosted their price objective on shares of Pure Storage from $63.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Citigroup boosted their price objective on shares of Pure Storage from $65.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Bank of America boosted their price objective on shares of Pure Storage from $57.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Finally, Wedbush reissued an “outperform” rating and set a $70.00 price objective (up from $50.00) on shares of Pure Storage in a report on Tuesday, May 28th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.95.

Pure Storage Price Performance

Shares of PSTG stock traded up $1.00 during mid-day trading on Monday, hitting $65.21. 633,414 shares of the stock were exchanged, compared to its average volume of 4,276,726. The firm has a fifty day moving average of $59.70 and a 200 day moving average of $50.00. The company has a quick ratio of 1.96, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The company has a market cap of $21.21 billion, a PE ratio of 232.39, a price-to-earnings-growth ratio of 6.47 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, May 29th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Pure Storage had a net margin of 3.19% and a return on equity of 15.34%. The firm had revenue of $693.48 million during the quarter, compared to the consensus estimate of $681.37 million. Research analysts anticipate that Pure Storage, Inc. will post 0.47 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mallun Yen sold 4,818 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $64.78, for a total transaction of $312,110.04. Following the completion of the transaction, the director now owns 35,498 shares in the company, valued at approximately $2,299,560.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Pure Storage news, Director Mallun Yen sold 4,818 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $64.78, for a total value of $312,110.04. Following the completion of the sale, the director now owns 35,498 shares in the company, valued at approximately $2,299,560.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO P. Kevan Krysler sold 15,286 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total transaction of $807,100.80. Following the completion of the sale, the chief financial officer now owns 507,824 shares of the company’s stock, valued at approximately $26,813,107.20. The disclosure for this sale can be found here. Insiders sold a total of 291,399 shares of company stock worth $15,578,814 in the last 90 days. Insiders own 6.00% of the company’s stock.

Pure Storage Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.