Swedbank AB Reduces Position in Pure Storage, Inc. (NYSE:PSTG)

Swedbank AB decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,138 shares of the technology company’s stock after selling 1,177 shares during the quarter. Swedbank AB’s holdings in Pure Storage were worth $2,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSTG. Bank of New York Mellon Corp grew its position in Pure Storage by 56.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock valued at $237,345,000 after acquiring an additional 1,327,873 shares during the last quarter. Principal Financial Group Inc. boosted its stake 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 valued at $58,299,000 after purchasing an additional 1,094,618 shares during the period. Vanguard Group Inc. grew its holdings in shares of Pure Storage by 1.8% in 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 during the last quarter. Retirement Systems of Alabama purchased a new position in Pure Storage in the 1st quarter worth about $22,399,000. Finally, American International Group Inc. lifted its holdings in Pure Storage by 9,131.0% during the 1st quarter. American International Group Inc. now owns 394,996 shares of the technology company’s stock valued at $20,536,000 after buying an additional 390,717 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Mona Chu sold 20,647 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the sale, the chief accounting officer now directly owns 75,992 shares of the company’s stock, valued at $3,913,588. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total value of $6,176,000.00. Following the sale, the insider now owns 700,000 shares in the company, valued at $43,232,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mona Chu sold 20,647 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $51.50, for a total value of $1,063,320.50. Following the completion of the sale, the chief accounting officer now owns 75,992 shares in the company, valued at approximately $3,913,588. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 454,542 shares of company stock valued at $24,282,030. Insiders own 6.00% of the company’s stock.

Pure Storage Trading Up 1.1 %

Shares of NYSE:PSTG opened at $57.11 on Friday. The business’s 50-day moving average is $53.14 and its 200 day moving average is $56.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41. The firm has a market capitalization of $18.71 billion, a P/E ratio of 142.78, a P/E/G ratio of 8.45 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share (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 the consensus estimate of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. On average, research analysts predict that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of research analyst reports. Wedbush restated an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Evercore ISI reduced their price objective on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. UBS Group decreased their target price on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Guggenheim increased their price target on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC decreased their price objective on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.05.

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.