Mediolanum International Funds Ltd Has $923,000 Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Mediolanum International Funds Ltd cut its position in Pure Storage, Inc. (NYSE:PSTG) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,706 shares of the technology company’s stock after selling 564 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Pure Storage were worth $923,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its position in shares of 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 buying an additional 161 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Pure Storage by 3.0% during the 2nd quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock valued at $444,000 after purchasing an additional 202 shares in the last quarter. Michael S. Ryan Inc. grew its position in shares of Pure Storage by 4.8% during the 2nd quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company’s stock valued at $292,000 after purchasing an additional 208 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in Pure Storage by 3.2% in the second quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company’s stock worth $462,000 after acquiring an additional 223 shares in the last quarter. Finally, Hanseatic Management Services Inc. grew its position in Pure Storage by 2.4% in the second quarter. Hanseatic Management Services Inc. now owns 12,579 shares of the technology company’s stock worth $808,000 after acquiring an additional 296 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Up 1.1 %

NYSE:PSTG opened at $54.05 on Monday. The company’s 50 day moving average price is $52.51 and its 200-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 company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 135.13, a PEG ratio of 8.31 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The company 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%. On average, equities research analysts forecast that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Activity at Pure Storage

In related 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 transaction, the chief accounting officer now owns 96,639 shares in the company, valued at $4,862,874.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $1,258,000.00. Following the transaction, the chief accounting officer now directly owns 96,639 shares in the company, valued at approximately $4,862,874.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 700,000 shares in the company, valued at $43,232,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 554,542 shares of company stock worth $30,014,030 over the last quarter. Company insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Needham & Company LLC lowered their price target on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wedbush reissued an “outperform” rating and issued a $80.00 price target on shares of Pure Storage in a research note on Monday, August 26th. Citigroup decreased their price target on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Guggenheim upped their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Piper Sandler cut their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $68.05.

Pure Storage Company 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.