Parallel Advisors LLC lowered its stake in shares of Pure Storage, Inc. (NYSE:PSTG – Free Report) by 7.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 12,765 shares of the technology company’s stock after selling 1,023 shares during the quarter. Parallel Advisors LLC’s holdings in Pure Storage were worth $820,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. 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 valued at $27,000 after purchasing an additional 161 shares during the last quarter. Larson Financial Group LLC grew its position in Pure Storage by 242.9% in the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after purchasing an additional 306 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Pure Storage during the 1st quarter valued at $25,000. FSC Wealth Advisors LLC bought a new position in shares of Pure Storage during the 2nd quarter valued at $33,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Pure Storage in the 1st quarter worth $27,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.
Pure Storage Stock Performance
PSTG opened at $49.60 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The stock has a market capitalization of $16.13 billion, a price-to-earnings ratio of 177.14, a PEG ratio of 7.49 and a beta of 1.11. The company has a fifty day moving average of $56.95 and a 200 day moving average of $57.18. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41.
Insider Activity
Wall Street Analyst Weigh In
A number of research firms recently commented on PSTG. JPMorgan Chase & Co. upped their price objective on Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Susquehanna restated a “positive” rating and set a $80.00 price target on shares of Pure Storage in a research note on Monday, August 26th. TD Cowen lowered their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Piper Sandler cut their target price 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. Finally, KeyCorp increased their price target on shares of Pure Storage from $64.00 to $79.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.95.
Check Out Our Latest Stock Report on Pure Storage
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.
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