XTX Topco Ltd Cuts Stake in Pure Storage, Inc. (NYSE:PSTG)

XTX Topco Ltd lowered its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 47.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,245 shares of the technology company’s stock after selling 10,996 shares during the quarter. XTX Topco Ltd’s holdings in Pure Storage were worth $786,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PSTG. Bank of New York Mellon Corp grew its position in shares of Pure Storage by 56.1% during the second quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock worth $237,345,000 after purchasing an additional 1,327,873 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Pure Storage by 4,095.7% during the first quarter. Principal Financial Group Inc. now owns 1,121,344 shares of the technology company’s stock worth $58,299,000 after purchasing an additional 1,094,618 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in shares of Pure Storage by 835.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,078,454 shares of the technology company’s stock worth $38,458,000 after purchasing an additional 963,140 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Pure Storage by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 31,294,297 shares of the technology company’s stock worth $1,115,955,000 after purchasing an additional 567,358 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Pure Storage by 251.9% during the fourth quarter. Wells Fargo & Company MN now owns 635,842 shares of the technology company’s stock worth $22,674,000 after purchasing an additional 455,177 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of PSTG stock opened at $50.72 on Monday. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. 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 firm has a market capitalization of $16.50 billion, a P/E ratio of 181.14, a P/E/G ratio of 7.69 and a beta of 1.11. The stock has a 50 day moving average price of $55.66 and a 200 day moving average price of $57.02.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $756.59 million. As a group, sell-side analysts predict that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PSTG. UBS Group cut their price target on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Needham & Company LLC cut their price target on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, August 29th. KeyCorp raised their price target on Pure Storage from $64.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. raised their price target on Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Bank of America raised their price target on Pure Storage from $57.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.95.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 9,881 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $59.32, for a total transaction of $586,140.92. Following the completion of the sale, the executive now directly owns 115,601 shares of the company’s stock, valued at approximately $6,857,451.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pure Storage news, CRO Dan Fitzsimons sold 9,881 shares of Pure Storage stock in a transaction on Friday, July 19th. The stock was sold at an average price of $59.32, for a total transaction of $586,140.92. Following the completion of the sale, the executive now directly owns 115,601 shares of the company’s stock, valued at approximately $6,857,451.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO P. Kevan Krysler sold 14,296 shares of Pure Storage stock in a transaction on Friday, July 5th. The shares were sold at an average price of $63.79, for a total value of $911,941.84. Following the sale, the chief financial officer now directly owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The disclosure for this sale can be found here. In the last three months, insiders sold 324,177 shares of company stock valued at $18,863,083. Insiders own 6.00% of the company’s stock.

Pure Storage 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.