Harvest Fund Management Co. Ltd Sells 11,684 Shares of Pure Storage, Inc. (NYSE:PSTG)

Harvest Fund Management Co. Ltd lessened its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 79.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,967 shares of the technology company’s stock after selling 11,684 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Pure Storage were worth $149,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSTG. Massmutual Trust Co. FSB ADV lifted its position in shares of Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after buying an additional 161 shares in the last quarter. Larson Financial Group LLC raised its stake in Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after acquiring an additional 306 shares during the period. FSC Wealth Advisors LLC purchased a new position in Pure Storage during the second quarter valued at approximately $33,000. ORG Partners LLC bought a new position in shares of Pure Storage in the second quarter worth approximately $35,000. Finally, City State Bank increased its stake in shares of Pure Storage by 175.0% in the second quarter. City State Bank now owns 550 shares of the technology company’s stock worth $35,000 after purchasing an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Down 3.1 %

Shares of NYSE PSTG opened at $52.93 on Thursday. 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 simple moving average of $51.95 and a two-hundred day simple moving average of $56.86. The company has a market cap of $17.34 billion, a P/E ratio of 132.33, a PEG ratio of 7.30 and a beta of 1.10. 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 (NYSE:PSTG) last released 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 company had revenue of $763.77 million during the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. Research analysts anticipate that Pure Storage, Inc. will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of analyst reports. Piper Sandler lowered their target price on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Oppenheimer assumed coverage on Pure Storage in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Citigroup decreased their target price on Pure Storage from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Finally, Wedbush restated an “outperform” rating and issued a $80.00 price target on shares of Pure Storage in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.95.

Insider Transactions at Pure Storage

In other news, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. This represents a 20.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the transaction, the insider now owns 300,000 shares in the company, valued at approximately $17,196,000. This represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 354,542 shares of company stock valued at $18,599,030. 6.00% of the stock is currently owned by corporate insiders.

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.