Forsta AP Fonden Buys 9,400 Shares of Pure Storage, Inc. (NYSE:PSTG)

Forsta AP Fonden raised its stake in Pure Storage, Inc. (NYSE:PSTG) by 16.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 67,500 shares of the technology company’s stock after acquiring an additional 9,400 shares during the quarter. Forsta AP Fonden’s holdings in Pure Storage were worth $3,391,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PSTG. Brookstone Capital Management increased its position in Pure Storage by 7.3% in the 1st quarter. Brookstone Capital Management now owns 8,627 shares of the technology company’s stock valued at $449,000 after buying an additional 584 shares in the last quarter. State of Michigan Retirement System bought a new stake in shares of Pure Storage during the first quarter valued at approximately $3,790,000. State of Alaska Department of Revenue acquired a new position in shares of Pure Storage during the first quarter worth approximately $1,675,000. Norden Group LLC acquired a new position in shares of Pure Storage during the first quarter worth approximately $458,000. Finally, Veracity Capital LLC bought a new position in shares of Pure Storage in the 1st quarter worth $521,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Trading Up 1.9 %

NYSE:PSTG opened at $55.12 on Wednesday. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $52.22 and its 200 day moving average is $56.99. The stock has a market capitalization of $18.06 billion, a PE ratio of 137.80, a price-to-earnings-growth ratio of 8.47 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Sell-side analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on PSTG shares. Evercore ISI decreased their price target on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. Piper Sandler dropped their price target on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. TD Cowen decreased their price objective on Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Stifel Nicolaus lowered their price objective on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.05.

Insider Buying and Selling at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total value of $6,176,000.00. Following the sale, the insider now owns 700,000 shares of the company’s stock, valued at $43,232,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total value of $6,176,000.00. Following the completion of the transaction, the insider now directly owns 700,000 shares in the company, valued at approximately $43,232,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the business’s 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 sale, the chief accounting officer now directly owns 96,639 shares in the company, valued at $4,862,874.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 554,542 shares of company stock valued at $30,014,030 over the last three months. 6.00% of the stock is currently owned by insiders.

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.