Allspring Global Investments Holdings LLC trimmed its stake in shares of Pure Storage, Inc. (NYSE:PSTG – Free Report) by 37.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 791 shares of the technology company’s stock after selling 465 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Pure Storage were worth $41,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of PSTG. Vanguard Group Inc. raised its holdings in shares of Pure Storage by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 31,294,297 shares of the technology company’s stock valued at $1,115,955,000 after acquiring an additional 567,358 shares during the period. First Trust Advisors LP raised its position in Pure Storage by 4.2% during the fourth quarter. First Trust Advisors LP now owns 4,028,716 shares of the technology company’s stock valued at $143,664,000 after buying an additional 160,877 shares during the period. Norges Bank purchased a new stake in Pure Storage in the 4th quarter worth about $115,452,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Pure Storage by 83.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,068,255 shares of the technology company’s stock worth $73,754,000 after acquiring an additional 943,850 shares during the period. Finally, Nikko Asset Management Americas Inc. grew its stake in Pure Storage by 83.9% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,068,255 shares of the technology company’s stock valued at $73,733,000 after acquiring an additional 943,850 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently commented on PSTG shares. Guggenheim restated a “buy” rating and set a $72.00 price target on shares of Pure Storage in a report on Tuesday, June 25th. Evercore ISI upped their price target on shares of Pure Storage from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Citigroup boosted their target price on Pure Storage from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Northland Securities downgraded Pure Storage from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $58.00 to $68.00 in a research note on Thursday, May 30th. Finally, Morgan Stanley cut Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 price target for the company. in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $69.11.
Get Our Latest Analysis on PSTG
Insider Buying and Selling at Pure Storage
In other news, Director Andrew William Fraser Brown sold 20,564 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $52.31, for a total transaction of $1,075,702.84. Following the completion of the transaction, the director now directly owns 24,400 shares of the company’s stock, valued at approximately $1,276,364. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pure Storage news, CRO Dan Fitzsimons sold 29,283 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the completion of the transaction, the executive now directly owns 138,105 shares in the company, valued at $7,200,794.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew William Fraser Brown sold 20,564 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $52.31, for a total transaction of $1,075,702.84. Following the completion of the sale, the director now directly owns 24,400 shares in the company, valued at approximately $1,276,364. The disclosure for this sale can be found here. Insiders have sold 84,247 shares of company stock valued at $4,633,671 in the last 90 days. 6.00% of the stock is currently owned by company insiders.
Pure Storage Stock Down 0.2 %
Shares of PSTG opened at $65.20 on Friday. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The firm has a market capitalization of $21.21 billion, a P/E ratio of 232.86, a P/E/G ratio of 6.58 and a beta of 1.11. The company has a 50-day simple moving average of $62.39 and a 200-day simple moving average of $51.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 2.00.
Pure Storage (NYSE:PSTG – Get Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $693.48 million during the quarter, compared to the consensus estimate of $681.37 million. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. On average, equities research analysts expect that Pure Storage, Inc. will post 0.47 earnings per share for the current year.
About Pure Storage
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.
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