Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Innovis Asset Management LLC

Innovis Asset Management LLC lowered its position in shares of Pure Storage, Inc. (NYSE:PSTGFree Report) by 34.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,726 shares of the technology company’s stock after selling 69,645 shares during the period. Pure Storage makes up about 1.8% of Innovis Asset Management LLC’s investment portfolio, making the stock its 24th largest position. Innovis Asset Management LLC’s holdings in Pure Storage were worth $4,621,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Pure Storage by 0.7% in the first quarter. Vanguard Group Inc. now owns 27,369,119 shares of the technology company’s stock worth $966,403,000 after acquiring an additional 203,732 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Pure Storage by 24.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,091,077 shares of the technology company’s stock valued at $359,464,000 after purchasing an additional 2,807,489 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Pure Storage by 3.6% in the second quarter. Geode Capital Management LLC now owns 4,096,438 shares of the technology company’s stock valued at $150,831,000 after acquiring an additional 142,353 shares during the period. Norges Bank bought a new stake in shares of Pure Storage in the fourth quarter valued at approximately $90,143,000. Finally, Wellington Management Group LLP lifted its position in Pure Storage by 2.0% in the first quarter. Wellington Management Group LLP now owns 3,209,361 shares of the technology company’s stock worth $113,322,000 after purchasing an additional 62,110 shares during the period. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, Director Roxanne Taylor sold 16,216 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $37.05, for a total value of $600,802.80. Following the completion of the sale, the director now owns 55,743 shares in the company, valued at approximately $2,065,278.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Pure Storage news, Director Roxanne Taylor sold 16,216 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $37.05, for a total value of $600,802.80. Following the completion of the transaction, the director now owns 55,743 shares of the company’s stock, valued at approximately $2,065,278.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Tomb sold 8,475 shares of Pure Storage stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $32.53, for a total transaction of $275,691.75. Following the sale, the director now directly owns 30,612 shares of the company’s stock, valued at $995,808.36. The disclosure for this sale can be found here. 6.50% of the stock is owned by corporate insiders.

Pure Storage Stock Up 1.6 %

PSTG stock traded up $0.71 during midday trading on Friday, hitting $44.85. The company’s stock had a trading volume of 1,699,906 shares, compared to its average volume of 5,854,228. The company has a market cap of $14.17 billion, a PE ratio of 232.35, a P/E/G ratio of 6.27 and a beta of 1.11. Pure Storage, Inc. has a 12 month low of $22.14 and a 12 month high of $45.22. The company has a current ratio of 1.82, a quick ratio of 1.78 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average is $37.33 and its 200-day moving average is $36.55.

Pure Storage (NYSE:PSTGGet Free Report) last announced its earnings results on Wednesday, November 29th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. Pure Storage had a return on equity of 13.10% and a net margin of 2.47%. The company had revenue of $762.80 million for the quarter, compared to analysts’ expectations of $761.49 million. During the same period last year, the firm earned $0.08 EPS. Pure Storage’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts forecast that Pure Storage, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Pure Storage from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, November 30th. Raymond James decreased their price objective on Pure Storage from $45.00 to $42.00 and set a “strong-buy” rating on the stock in a report on Thursday, November 30th. KeyCorp upped their price objective on Pure Storage from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Morgan Stanley cut their target price on Pure Storage from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, November 30th. Finally, TD Cowen dropped their target price on Pure Storage from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, November 30th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.94.

Check Out Our Latest Research Report on Pure Storage

Pure Storage Profile

(Free Report)

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

Featured Stories

Want to see what other hedge funds are holding PSTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pure Storage, Inc. (NYSE:PSTGFree Report).

Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

Receive News & Ratings for Pure Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage and related companies with MarketBeat.com's FREE daily email newsletter.