Park Avenue Securities LLC Has $327,000 Position in Pure Storage, Inc. (NYSE:PSTG)

Park Avenue Securities LLC cut its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 17.1% during the 3rd quarter, Holdings Channel reports. The firm owned 6,518 shares of the technology company’s stock after selling 1,344 shares during the quarter. Park Avenue Securities LLC’s holdings in Pure Storage were worth $327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of PSTG. Massmutual Trust Co. FSB ADV lifted its holdings in Pure Storage by 61.2% during the 2nd 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. Harbour Investments Inc. raised its stake in Pure Storage by 3.0% in the 2nd quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock worth $444,000 after purchasing an additional 202 shares in the last quarter. Michael S. Ryan Inc. boosted its holdings in Pure Storage by 4.8% in the 2nd quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company’s stock valued at $292,000 after purchasing an additional 208 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Pure Storage by 3.2% during the 2nd quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company’s stock worth $462,000 after purchasing an additional 223 shares in the last quarter. Finally, Hanseatic Management Services Inc. increased its holdings in shares of Pure Storage by 2.4% during the second quarter. Hanseatic Management Services Inc. now owns 12,579 shares of the technology company’s stock worth $808,000 after purchasing an additional 296 shares during the period. 83.42% of the stock is owned by institutional investors.

Insider Activity at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the completion of the sale, the insider now directly owns 900,000 shares in the company, valued at $53,550,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction 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 sale, the chief accounting officer now owns 96,639 shares in the company, valued at $4,862,874.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the transaction, the insider now directly owns 900,000 shares in the company, valued at approximately $53,550,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 564,423 shares of company stock worth $30,818,171 over the last ninety days. Insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Guggenheim reiterated a “buy” rating and issued a $72.00 price target on shares of Pure Storage in a research note on Tuesday, June 25th. Lake Street Capital reduced their target price on Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Needham & Company LLC decreased their price target on Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock 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 for the company in a research report on Thursday, August 29th. Finally, TD Cowen decreased their target price on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.95.

Pure Storage Price Performance

PSTG stock opened at $53.20 on Monday. The company has a market capitalization of $17.30 billion, a P/E ratio of 190.00, a PEG ratio of 8.33 and a beta of 1.11. The company has a fifty day moving average price of $53.10 and a 200-day moving average price of $56.87. 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, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) 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 business had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. As a group, equities analysts expect that Pure Storage, Inc. will post 0.43 EPS 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.