Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 50,547 shares of the technology company’s stock after buying an additional 1,251 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pure Storage were worth $2,539,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Banque Cantonale Vaudoise purchased a new stake in shares of Pure Storage during the first quarter valued at approximately $25,000. Fidelis Capital Partners LLC purchased a new position in shares of Pure Storage in the first quarter worth $27,000. Massmutual Trust Co. FSB ADV raised its holdings in Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after buying an additional 161 shares during the last quarter. Larson Financial Group LLC boosted its position in Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after buying an additional 306 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in Pure Storage in the 3rd quarter worth $31,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Pure Storage

In related news, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the transaction, the chief accounting officer now owns 96,639 shares in the company, valued at approximately $4,862,874.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Pure Storage news, CAO Mona Chu sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at $4,862,874.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the completion of the sale, the insider now owns 700,000 shares in the company, valued at approximately $43,232,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 454,542 shares of company stock worth $24,282,030. 6.00% of the stock is owned by company insiders.

Analyst Ratings Changes

PSTG has been the subject of a number of analyst reports. Evercore ISI dropped their target price on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. UBS Group cut their target price on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. Citigroup cut their price objective on Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Northland Securities reissued a “market perform” rating and set a $59.00 price objective (down previously from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.05.

Pure Storage Stock Up 1.0 %

Pure Storage stock opened at $57.07 on Monday. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. The stock has a fifty day moving average of $53.14 and a 200 day moving average of $56.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The stock has a market cap of $18.56 billion, a PE ratio of 203.82, a price-to-earnings-growth ratio of 8.45 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.10. The business had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. As a group, sell-side analysts predict that Pure Storage, Inc. will post 0.43 EPS for the current year.

About Pure Storage

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.