Los Angeles Capital Management LLC Cuts Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Los Angeles Capital Management LLC trimmed its position in Pure Storage, Inc. (NYSE:PSTG) by 95.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,027 shares of the technology company’s stock after selling 94,744 shares during the period. Los Angeles Capital Management LLC’s holdings in Pure Storage were worth $202,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. ProShare Advisors LLC purchased a new stake in shares of Pure Storage in the first quarter valued at about $860,000. Vanguard Group Inc. raised its stake in shares of Pure Storage by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock worth $1,652,735,000 after buying an additional 495,183 shares in the last quarter. Covestor Ltd raised its stake in shares of Pure Storage by 277.0% during the 1st quarter. Covestor Ltd now owns 1,489 shares of the technology company’s stock worth $77,000 after buying an additional 1,094 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of Pure Storage in the 1st quarter valued at approximately $315,000. Finally, American International Group Inc. boosted its stake in shares of Pure Storage by 9,131.0% in the first 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSTG has been the subject of a number of recent analyst reports. Susquehanna reissued a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. TD Cowen reduced their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Guggenheim upped 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. Evercore ISI reduced their price target 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, Oppenheimer started coverage on Pure Storage in a report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and a consensus price target of $68.15.

Pure Storage Trading Up 2.8 %

Shares of PSTG opened at $49.54 on Tuesday. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The company has a market capitalization of $16.23 billion, a PE ratio of 120.48, a price-to-earnings-growth ratio of 6.54 and a beta of 1.10. The stock has a fifty day moving average of $51.41 and a two-hundred day moving average of $56.97. 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 EPS for the quarter, beating 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 firm had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. As a group, analysts forecast that Pure Storage, Inc. will post 0.42 EPS for the current year.

Insider Transactions at Pure Storage

In other news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the sale, the executive now owns 94,446 shares of the company’s stock, valued at $4,785,578.82. This represents a 8.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the business’s stock in a transaction dated 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 owns 96,639 shares in the company, valued at approximately $4,862,874.48. This represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 354,542 shares of company stock worth $18,599,030 in the last three months. 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.