Livforsakringsbolaget Skandia Omsesidigt Acquires 1,111 Shares of Pure Storage, Inc. (NYSE:PSTG)

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 93.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,300 shares of the technology company’s stock after purchasing an additional 1,111 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Pure Storage were worth $116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sycomore Asset Management bought a new position in Pure Storage in the 2nd quarter worth approximately $2,259,000. State of Alaska Department of Revenue bought a new position in shares of Pure Storage during the 1st quarter valued at approximately $1,675,000. Texas Permanent School Fund Corp bought a new position in shares of Pure Storage during the 1st quarter valued at approximately $13,514,000. Heritage Wealth Management Inc. bought a new position in shares of Pure Storage during the 2nd quarter valued at approximately $721,000. Finally, Cetera Investment Advisers boosted its position in shares of Pure Storage by 284.9% during the 1st quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock valued at $2,901,000 after acquiring an additional 41,305 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Performance

Shares of Pure Storage stock opened at $52.59 on Wednesday. The firm has a market cap of $17.10 billion, a P/E ratio of 187.82, a P/E/G ratio of 8.33 and a beta of 1.11. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The stock’s fifty day moving average price is $53.09 and its 200-day moving average price is $56.89.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.10 by $0.10. The firm had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. On average, equities research analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PSTG. Needham & Company LLC lowered their target price on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Guggenheim reiterated a “buy” rating and set a $72.00 target price on shares of Pure Storage in a research report on Tuesday, June 25th. TD Cowen lowered their target price on Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Piper Sandler decreased their price target on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, UBS Group decreased their price target on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.95.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 900,000 shares of the company’s stock, valued at $53,550,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 900,000 shares of the company’s stock, valued at $53,550,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Dan Fitzsimons sold 9,881 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $59.32, for a total value of $586,140.92. Following the sale, the executive now directly owns 115,601 shares in the company, valued at approximately $6,857,451.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 564,423 shares of company stock worth $30,818,171. Company 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.