Pure Storage, Inc. (NYSE:PSTG) Shares Bought by Citigroup Inc.

Citigroup Inc. increased its stake in Pure Storage, Inc. (NYSE:PSTG) by 11.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 144,005 shares of the technology company’s stock after buying an additional 14,659 shares during the quarter. Citigroup Inc.’s holdings in Pure Storage were worth $7,235,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after acquiring an additional 747,034 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Pure Storage during the 3rd quarter valued at $392,000. Banque Cantonale Vaudoise increased its stake in Pure Storage by 10.3% during the 3rd quarter. Banque Cantonale Vaudoise now owns 4,637 shares of the technology company’s stock worth $233,000 after buying an additional 433 shares during the period. Prospera Financial Services Inc increased its stake in Pure Storage by 22.9% during the 3rd quarter. Prospera Financial Services Inc now owns 4,960 shares of the technology company’s stock worth $249,000 after buying an additional 925 shares during the period. Finally, Quest Partners LLC acquired a new position in Pure Storage in the 3rd quarter worth $613,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now directly owns 500,000 shares in the company, valued at $24,970,000. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the sale, the executive now directly owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. This trade represents a 8.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 354,542 shares of company stock valued at $18,599,030. 6.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PSTG has been the topic of a number of analyst reports. Northland Securities reaffirmed a “market perform” rating and set a $59.00 target price (down from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Guggenheim upped their target price on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Wedbush reissued an “outperform” rating and set a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. Piper Sandler cut their price target 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. Finally, Raymond James dropped their target price on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.95.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $52.99 on Friday. The firm has a market cap of $17.36 billion, a P/E ratio of 132.48, a price-to-earnings-growth ratio of 7.18 and a beta of 1.10. The business’s 50 day moving average is $52.06 and its 200-day moving average is $56.82. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share 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 firm had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. Equities research analysts predict that Pure Storage, Inc. will post 0.42 earnings per share for the current year.

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.