Axa S.A. Invests $903,000 in Pure Storage, Inc. (NYSE:PSTG)

Axa S.A. purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 14,064 shares of the technology company’s stock, valued at approximately $903,000.

Other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in shares of Pure Storage during the first quarter worth about $25,000. Fidelis Capital Partners LLC bought a new stake in Pure Storage during the 1st quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV increased its position in Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after acquiring an additional 161 shares during the period. Larson Financial Group LLC raised its stake in shares of Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after acquiring an additional 306 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Pure Storage during the second quarter worth $33,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PSTG shares. Piper Sandler decreased their price objective on Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Susquehanna restated a “positive” rating and set a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. Raymond James reduced their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Citigroup decreased their target price on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Evercore ISI dropped their price target 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.95.

Pure Storage Stock Down 2.9 %

Shares of NYSE:PSTG opened at $48.77 on Wednesday. The business’s 50 day moving average is $54.01 and its 200 day moving average is $56.87. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The stock has a market cap of $15.86 billion, a price-to-earnings ratio of 174.18, a PEG ratio of 7.81 and a beta of 1.11. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07.

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 analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The business had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. On average, sell-side analysts forecast that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Activity at Pure Storage

In related news, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,639 shares in the company, valued at approximately $4,862,874.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Pure Storage news, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO P. Kevan Krysler sold 14,296 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.79, for a total transaction of $911,941.84. Following the completion of the sale, the chief financial officer now directly owns 518,623 shares in the company, valued at approximately $33,082,961.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 458,072 shares of company stock worth $25,565,792. 6.00% of the stock is owned by company insiders.

About Pure Storage

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.