IFM Investors Pty Ltd Decreases Stake in Pure Storage, Inc. (NYSE:PSTG)

IFM Investors Pty Ltd decreased its holdings in Pure Storage, Inc. (NYSE:PSTG) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,116 shares of the technology company’s stock after selling 439 shares during the quarter. IFM Investors Pty Ltd’s holdings in Pure Storage were worth $3,121,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PSTG. Massmutual Trust Co. FSB ADV lifted its stake in shares of Pure Storage by 61.2% in the second 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 period. Harbour Investments Inc. lifted its stake in shares of Pure Storage by 3.0% in the second quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock valued at $444,000 after purchasing an additional 202 shares during the period. Michael S. Ryan Inc. lifted its stake in shares of Pure Storage by 4.8% in the second 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 lifted its stake in shares of Pure Storage by 3.2% in the second quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company’s stock valued at $462,000 after purchasing an additional 223 shares during the period. Finally, Hanseatic Management Services Inc. lifted its stake in shares of Pure Storage by 2.4% in the second quarter. Hanseatic Management Services Inc. now owns 12,579 shares of the technology company’s stock valued at $808,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on PSTG shares. Citigroup reduced their price objective on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. TD Cowen cut their target price on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Raymond James cut their target price on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Piper Sandler cut their target price on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, Guggenheim lifted their target price on shares of Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.05.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the completion of the sale, the insider now owns 700,000 shares in the company, valued at approximately $43,232,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the transaction, the insider now directly owns 700,000 shares of the company’s stock, valued at $43,232,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Mona Chu sold 20,647 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 554,542 shares of company stock worth $30,014,030 in the last three months. 6.00% of the stock is currently owned by company insiders.

Pure Storage Price Performance

Pure Storage stock opened at $54.05 on Monday. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41. The firm has a 50 day moving average price of $52.51 and a 200 day moving average price of $56.96. The company has a market cap of $17.71 billion, a price-to-earnings ratio of 135.13, a PEG ratio of 8.31 and a beta of 1.11. 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 (NYSE:PSTG) last released its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Sell-side analysts predict that Pure Storage, Inc. will post 0.43 earnings per share 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.