Rhumbline Advisers Sells 15,779 Shares of Pure Storage, Inc. $PSTG

Rhumbline Advisers cut its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 899,122 shares of the technology company’s stock after selling 15,779 shares during the period. Rhumbline Advisers owned about 0.27% of Pure Storage worth $75,355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSTG. Versant Capital Management Inc raised its stake in shares of Pure Storage by 8.3% in the third quarter. Versant Capital Management Inc now owns 1,598 shares of the technology company’s stock worth $134,000 after buying an additional 122 shares during the period. Smartleaf Asset Management LLC increased its holdings in Pure Storage by 40.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 468 shares of the technology company’s stock worth $39,000 after acquiring an additional 134 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Pure Storage by 0.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,756 shares of the technology company’s stock worth $3,667,000 after acquiring an additional 152 shares in the last quarter. State of Wyoming raised its stake in Pure Storage by 10.3% during the 3rd quarter. State of Wyoming now owns 1,673 shares of the technology company’s stock worth $140,000 after acquiring an additional 156 shares during the period. Finally, Global Retirement Partners LLC raised its stake in Pure Storage by 11.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,530 shares of the technology company’s stock worth $128,000 after acquiring an additional 162 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value of $481,930.92. Following the completion of the sale, the insider directly owned 215,091 shares in the company, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is currently owned by corporate insiders.

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $70.79 on Friday. The company has a market cap of $23.37 billion, a P/E ratio of 186.30, a P/E/G ratio of 5.92 and a beta of 1.27. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $100.59. The firm’s fifty day moving average is $70.23 and its two-hundred day moving average is $76.48.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Tuesday, December 2nd. The technology company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. The business had revenue of $964.45 million during the quarter, compared to the consensus estimate of $955.60 million. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. As a group, analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PSTG has been the subject of a number of recent analyst reports. Citigroup dropped their price target on shares of Pure Storage from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. Oppenheimer initiated coverage on shares of Pure Storage in a report on Monday, November 17th. They issued an “outperform” rating and a $120.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Pure Storage in a research note on Wednesday, December 3rd. Raymond James Financial raised their price target on Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Wall Street Zen downgraded Pure Storage from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.26.

Pure Storage Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.