Intech Investment Management LLC Decreases Position in Pure Storage, Inc. (NYSE:PSTG)

Intech Investment Management LLC lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,506 shares of the technology company’s stock after selling 14,077 shares during the period. Intech Investment Management LLC’s holdings in Pure Storage were worth $7,561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Pure Storage by 22.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after buying an additional 747,034 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings 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 worth $237,345,000 after buying an additional 1,327,873 shares during the last quarter. Blair William & Co. IL boosted its holdings in Pure Storage by 0.7% in the 2nd quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock worth $151,405,000 after buying an additional 15,747 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Pure Storage by 12.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock worth $143,470,000 after buying an additional 249,761 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Pure Storage by 22.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,303,863 shares of the technology company’s stock worth $83,728,000 after buying an additional 235,356 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the completion of the transaction, the insider now owns 500,000 shares in the company, valued at $24,970,000. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total transaction of $450,709.65. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 354,542 shares of company stock worth $18,599,030 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

Shares of PSTG stock opened at $51.64 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average price of $51.65 and a 200 day moving average price of $56.85. The company has a market cap of $16.92 billion, a P/E ratio of 129.10, a PEG ratio of 6.77 and a beta of 1.10. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The firm had revenue of $763.77 million during 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%. Sell-side analysts predict that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PSTG shares. Raymond James lowered their price objective on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Evercore ISI decreased their target price on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Guggenheim raised their target price on shares of Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. TD Cowen decreased their target price on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Lake Street Capital reduced their price target on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.95.

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.