Clearwater Capital Advisors LLC Trims Position in Pure Storage, Inc. (NYSE:PSTG)

Clearwater Capital Advisors LLC lessened its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 18.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,838 shares of the technology company’s stock after selling 852 shares during the quarter. Clearwater Capital Advisors LLC’s holdings in Pure Storage were worth $246,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PSTG. Napean Trading & Investment Co Singapore PTE Ltd boosted its holdings in shares of Pure Storage by 88.9% in the second quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 165,270 shares of the technology company’s stock valued at $10,612,000 after purchasing an additional 77,760 shares during the period. EFG Asset Management Americas Corp. lifted its stake in Pure Storage by 73.8% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 28,400 shares of the technology company’s stock valued at $1,824,000 after acquiring an additional 12,060 shares during the period. Arcadia Investment Management Corp MI increased its holdings in shares of Pure Storage by 17.1% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 45,835 shares of the technology company’s stock valued at $2,943,000 after purchasing an additional 6,695 shares in the last quarter. Arizona State Retirement System raised its position in shares of Pure Storage by 2.8% in the second quarter. Arizona State Retirement System now owns 84,789 shares of the technology company’s stock worth $5,444,000 after acquiring an additional 2,294 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Pure Storage by 41.2% during the second quarter. Victory Capital Management Inc. now owns 215,492 shares of the technology company’s stock worth $13,837,000 after purchasing an additional 62,830 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the sale, the insider now owns 700,000 shares of the company’s stock, valued at $43,232,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pure Storage news, CRO Dan Fitzsimons sold 9,881 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $59.32, for a total transaction of $586,140.92. Following the completion of the transaction, the executive now owns 115,601 shares in the company, valued at approximately $6,857,451.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the sale, the insider now directly owns 700,000 shares of the company’s stock, valued at $43,232,000. The disclosure for this sale can be found here. Insiders have sold a total of 324,177 shares of company stock worth $18,863,083 in the last ninety days. 6.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on PSTG. Northland Capmk cut Pure Storage from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 30th. Northland Securities restated a “market perform” rating and set a $59.00 target price (down from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Bank of America increased their price target on Pure Storage from $57.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Stifel Nicolaus cut their target price on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, August 29th. Finally, Piper Sandler lowered their price target on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.95.

Pure Storage Stock Down 2.6 %

Shares of PSTG traded down $1.21 during mid-day trading on Friday, hitting $45.73. 3,555,444 shares of the company’s stock were exchanged, compared to its average volume of 3,943,073. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The company has a market cap of $14.87 billion, a price-to-earnings ratio of 163.32, a P/E/G ratio of 7.59 and a beta of 1.11. The stock’s 50-day moving average is $58.90 and its 200-day moving average is $56.86. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41.

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.