Stephens Investment Management Group LLC Reduces Position in Pure Storage, Inc. (NYSE:PSTG)

Stephens Investment Management Group LLC decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,142,834 shares of the technology company’s stock after selling 34,147 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Pure Storage were worth $57,416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Fidelis Capital Partners LLC bought a new stake in shares of Pure Storage during the first quarter worth $27,000. Massmutual Trust Co. FSB ADV increased its position in shares of Pure Storage by 61.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after acquiring an additional 161 shares during the period. Larson Financial Group LLC grew its stake in Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after purchasing an additional 306 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage in the 3rd quarter worth $31,000. Finally, FSC Wealth Advisors LLC bought a new position in shares of Pure Storage during the 2nd quarter worth $33,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the completion of the transaction, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Mona Chu sold 20,647 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the completion of the transaction, the chief accounting officer now owns 75,992 shares of the company’s stock, valued at approximately $3,913,588. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s 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 completion of the sale, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 554,542 shares of company stock valued at $30,014,030 over the last ninety days. Company insiders own 6.00% of the company’s stock.

Pure Storage Stock Down 6.2 %

PSTG stock opened at $50.08 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $51.83 and a two-hundred day moving average of $56.92. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The company has a market cap of $16.41 billion, a price-to-earnings ratio of 125.20, a PEG ratio of 8.37 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results 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. The business had revenue of $763.77 million during 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%. As a group, analysts forecast that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on PSTG. Needham & Company LLC lowered 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. 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 research note on Thursday, August 29th. UBS Group reduced their target price on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Raymond James lowered their price target on Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Finally, TD Cowen cut their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.05.

Pure Storage Company 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.