Pure Storage, Inc. (NYSE:PSTG) Stock Holdings Decreased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 8.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 198,951 shares of the technology company’s stock after selling 17,855 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Pure Storage worth $9,995,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PSTG. Massmutual Trust Co. FSB ADV raised its holdings 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 purchasing an additional 161 shares during the period. Larson Financial Group LLC raised its stake in Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after acquiring an additional 306 shares during the period. FSC Wealth Advisors LLC acquired a new stake in Pure Storage during the second quarter worth about $33,000. ORG Partners LLC bought a new position in Pure Storage in the second quarter worth about $35,000. Finally, ORG Wealth Partners LLC acquired a new position in Pure Storage in the third quarter valued at approximately $31,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pure Storage

In other news, CAO Mona Chu sold 25,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now owns 96,639 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares in the company, valued at $24,970,000. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,542 shares of company stock valued at $18,599,030 over the last three months. Company insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PSTG shares. Lake Street Capital cut their price target on Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Raymond James cut their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. TD Cowen lowered their price target on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Evercore ISI cut their price objective on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Finally, Guggenheim upped their target price on shares of Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.95.

Pure Storage Price Performance

NYSE PSTG opened at $53.51 on Wednesday. Pure Storage, Inc. has a 1 year low of $31.79 and a 1 year high of $70.41. The business’s fifty day moving average is $52.19 and its two-hundred day moving average is $56.72. The stock has a market capitalization of $17.53 billion, a P/E ratio of 133.77, a P/E/G ratio of 7.20 and a beta of 1.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99.

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.