Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 38.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,293,742 shares of the technology company’s stock after selling 793,302 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Pure Storage were worth $64,998,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Tidal Investments LLC increased its holdings in Pure Storage by 11.5% in the 1st quarter. Tidal Investments LLC now owns 40,438 shares of the technology company’s stock valued at $2,102,000 after purchasing an additional 4,180 shares during the last quarter. Comerica Bank grew its stake in shares of Pure Storage by 1.6% in the first quarter. Comerica Bank now owns 272,506 shares of the technology company’s stock valued at $14,168,000 after buying an additional 4,287 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Pure Storage by 284.9% in the 1st quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock valued at $2,901,000 after buying an additional 41,305 shares during the period. Cetera Advisors LLC lifted its stake in Pure Storage by 3.0% during the 1st quarter. Cetera Advisors LLC now owns 19,214 shares of the technology company’s stock worth $999,000 after acquiring an additional 555 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in Pure Storage during the 1st quarter valued at about $5,095,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Price Performance

PSTG stock opened at $52.89 on Friday. 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 company has a market capitalization of $17.33 billion, a P/E ratio of 132.23, a PEG ratio of 7.30 and a beta of 1.10. The business has a 50 day simple moving average of $52.02 and a 200-day simple moving average of $56.83. 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 quarterly earnings data 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 net margin of 4.53% and a return on equity of 17.41%. The company had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. As a group, equities analysts anticipate that Pure Storage, Inc. will post 0.42 EPS for the current year.

Insider Buying and Selling

In related news, CAO Mona Chu sold 25,000 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at $4,862,874.48. This represents a 20.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the sale, the insider now directly owns 300,000 shares in the company, valued at $17,196,000. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 354,542 shares of company stock valued at $18,599,030 over the last quarter. 6.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PSTG. Oppenheimer started coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. Needham & Company LLC reduced their target price on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. 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 report on Thursday, August 29th. Citigroup cut their price objective on Pure Storage from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Finally, Northland Securities reiterated a “market perform” rating and issued a $59.00 target price (down from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.95.

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.