Swedbank AB Has $2.12 Million Holdings in Pure Storage, Inc. (NYSE:PSTG)

Swedbank AB lessened its stake in Pure Storage, Inc. (NYSE:PSTG) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,138 shares of the technology company’s stock after selling 1,177 shares during the quarter. Swedbank AB’s holdings in Pure Storage were worth $2,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sycomore Asset Management bought a new position in shares of Pure Storage in the 2nd quarter valued at about $2,259,000. MinichMacGregor Wealth Management LLC bought a new position in shares of Pure Storage in the 3rd quarter valued at about $6,890,000. Heritage Wealth Management Inc. bought a new position in shares of Pure Storage in the 2nd quarter valued at about $721,000. Cetera Investment Advisers boosted its stake in shares of Pure Storage by 284.9% in the 1st quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock valued at $2,901,000 after purchasing an additional 41,305 shares during the last quarter. Finally, Maverick Capital Ltd. boosted its stake in shares of Pure Storage by 274.9% in the 2nd quarter. Maverick Capital Ltd. now owns 22,564 shares of the technology company’s stock valued at $1,449,000 after purchasing an additional 16,546 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent research reports. UBS Group reduced their target price on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Northland Securities reissued a “market perform” rating and set a $59.00 price objective (down previously from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. Stifel Nicolaus reduced their price objective on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. Lake Street Capital reduced their price objective on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Citigroup reduced their price objective on shares of Pure Storage from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. 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 stock. According to data from MarketBeat, Pure Storage has an average rating of “Moderate Buy” and an average price target of $67.95.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred 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 sale, the insider now directly owns 500,000 shares in the company, valued at $24,970,000. This trade represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the sale, the chief accounting officer now owns 96,639 shares in the company, valued at $4,862,874.48. This trade represents a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 354,542 shares of company stock worth $18,599,030 over the last ninety days. Insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

NYSE PSTG opened at $52.93 on Thursday. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The company has a market capitalization of $17.34 billion, a PE ratio of 132.33, a price-to-earnings-growth ratio of 7.30 and a beta of 1.10. The firm’s 50 day moving average is $51.95 and its 200-day moving average is $56.86.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data 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 company had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. Equities research analysts anticipate that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

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.