Atria Investments Inc Reduces Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Atria Investments Inc cut its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 23.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,506 shares of the technology company’s stock after selling 2,323 shares during the period. Atria Investments Inc’s holdings in Pure Storage were worth $377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its position in shares of Pure Storage by 61.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after acquiring an additional 161 shares during the last quarter. Larson Financial Group LLC grew 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 valued at $28,000 after purchasing an additional 306 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Pure Storage in the third quarter valued at approximately $31,000. FSC Wealth Advisors LLC acquired a new stake in Pure Storage during the second quarter worth approximately $33,000. Finally, City State Bank grew its position in Pure Storage by 175.0% during the second quarter. City State Bank now owns 550 shares of the technology company’s stock worth $35,000 after buying an additional 350 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSTG has been the subject of several research analyst reports. Citigroup lowered their price objective on Pure Storage from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday. Guggenheim boosted their price target on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. William Blair restated an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Lake Street Capital lowered their price objective on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Piper Sandler reduced their price target on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and an average target price of $67.95.

Pure Storage Trading Up 3.7 %

NYSE PSTG opened at $51.64 on Friday. The stock’s 50-day simple moving average is $51.65 and its two-hundred day simple moving average is $56.85. The company has a market capitalization of $16.92 billion, a price-to-earnings ratio of 129.10, a PEG ratio of 6.77 and a beta of 1.10. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, August 28th. The technology company reported $0.20 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 business had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. Research analysts forecast that Pure Storage, Inc. will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Pure Storage news, CAO Mona Chu sold 20,647 shares of Pure Storage stock in a transaction dated 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 completion of the transaction, the chief accounting officer now owns 75,992 shares in the company, valued at approximately $3,913,588. This trade represents a 21.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the completion of the sale, the insider now owns 500,000 shares in the company, valued at approximately $24,970,000. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 354,542 shares of company stock valued at $18,599,030. 6.00% of the stock is owned by company insiders.

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.