Whittier Trust Co. Boosts Holdings in Pure Storage, Inc. (NYSE:PSTG)

Whittier Trust Co. lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,430 shares of the technology company’s stock after acquiring an additional 2,825 shares during the period. Whittier Trust Co.’s holdings in Pure Storage were worth $2,986,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Massmutual Trust Co. FSB ADV increased its position 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 worth $27,000 after purchasing an additional 161 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after acquiring an additional 306 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Pure Storage in the 1st quarter valued at $25,000. FSC Wealth Advisors LLC purchased a new stake in Pure Storage during the 2nd quarter worth $33,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Pure Storage in the 1st quarter valued at $27,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSTG has been the subject of several analyst reports. Needham & Company LLC decreased their target price on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Stifel Nicolaus decreased their price target on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, August 29th. TD Cowen dropped their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Wedbush restated an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Finally, Citigroup dropped their price target on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a research note 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.05.

Insider Transactions at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 20,647 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $51.50, for a total value of $1,063,320.50. Following the completion of the transaction, the chief accounting officer now owns 75,992 shares in the company, valued at approximately $3,913,588. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Pure Storage news, CAO Mona Chu sold 20,647 shares of Pure Storage stock in a transaction on Monday, October 7th. The stock was sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the sale, the chief accounting officer now owns 75,992 shares of the company’s stock, valued at $3,913,588. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $52.39, for a total value of $5,239,000.00. Following the completion of the transaction, the insider now directly owns 800,000 shares of the company’s stock, valued at approximately $41,912,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 454,542 shares of company stock worth $24,282,030. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $52.99 on Wednesday. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $53.02 and its two-hundred day moving average price is $56.99. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The stock has a market capitalization of $17.36 billion, a P/E ratio of 132.48, a P/E/G ratio of 8.95 and a beta of 1.11.

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

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.