Hancock Whitney Corp Lowers Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Hancock Whitney Corp lowered its stake in Pure Storage, Inc. (NYSE:PSTG) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,985 shares of the technology company’s stock after selling 548 shares during the period. Hancock Whitney Corp’s holdings in Pure Storage were worth $1,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd grew its position in Pure Storage by 53.5% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 55,818 shares of the technology company’s stock valued at $2,804,000 after purchasing an additional 19,444 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Pure Storage by 29.4% during the third quarter. Westfield Capital Management Co. LP now owns 995,019 shares of the technology company’s stock valued at $49,990,000 after buying an additional 225,949 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after acquiring an additional 212 shares in the last quarter. Citigroup Inc. raised its holdings in Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after acquiring an additional 14,659 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after acquiring an additional 747,034 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. William Blair reissued an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Wedbush reiterated an “outperform” rating and issued a $80.00 price objective on shares of Pure Storage in a report on Monday, August 26th. Guggenheim upped their target price on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Evercore ISI reduced their price target on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Finally, Susquehanna restated a “positive” rating and set a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.95.

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $54.60 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41. The firm has a fifty day moving average price of $51.88 and a 200-day moving average price of $56.88. The stock has a market cap of $17.89 billion, a PE ratio of 136.50, a price-to-earnings-growth ratio of 7.30 and a beta of 1.10.

Pure Storage (NYSE:PSTG) last posted 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 business had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. Equities analysts anticipate that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the sale, the insider now directly owns 300,000 shares in the company, valued at approximately $17,196,000. This represents a 25.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.67, for a total transaction of $450,709.65. Following the completion of the sale, the executive now owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. This represents a 8.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 354,542 shares of company stock worth $18,599,030. 6.00% of the stock is owned by corporate insiders.

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.