Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. decreased its position in Pure Storage, Inc. (NYSE:PSTG) by 10.5% during the 3rd quarter, Holdings Channel reports. The firm owned 1,880,334 shares of the technology company’s stock after selling 220,339 shares during the quarter. Congress Asset Management Co.’s holdings in Pure Storage were worth $94,468,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new position in Pure Storage during the first quarter worth about $27,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after purchasing an additional 161 shares during the last quarter. Larson Financial Group LLC boosted its position 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. ORG Wealth Partners LLC acquired a new stake in shares of Pure Storage in the third quarter valued at $31,000. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of Pure Storage in the second quarter valued at $33,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PSTG shares. Guggenheim upped their target price on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Needham & Company LLC reduced their price objective on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. UBS Group dropped their target price on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Citigroup dropped their price objective on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Stifel Nicolaus dropped their price objective on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.05.

Pure Storage Trading Down 4.0 %

Shares of PSTG stock traded down $2.15 during mid-day trading on Thursday, reaching $51.26. 396,097 shares of the stock traded hands, compared to its average volume of 3,689,989. The stock’s fifty day simple moving average is $52.04 and its two-hundred day simple moving average is $56.97. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41. The company has a market cap of $16.80 billion, a price-to-earnings ratio of 128.13, a price-to-earnings-growth ratio of 8.47 and a beta of 1.11. 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 (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The firm had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. On average, research analysts anticipate that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total value of $6,176,000.00. Following the transaction, the insider now directly owns 700,000 shares of the company’s stock, valued at $43,232,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total value of $6,176,000.00. Following the completion of the sale, the insider now directly owns 700,000 shares in the company, valued at approximately $43,232,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mona Chu sold 20,647 shares of Pure Storage stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $51.50, for a total value of $1,063,320.50. Following the completion of the sale, the chief accounting officer now owns 75,992 shares of the company’s stock, valued at approximately $3,913,588. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 554,542 shares of company stock valued at $30,014,030 over the last ninety days. 6.00% of the stock is owned by company insiders.

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.