Oppenheimer Asset Management Inc. Has $1.62 Million Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Oppenheimer Asset Management Inc. reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 32,301 shares of the technology company’s stock after selling 1,041 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Pure Storage were worth $1,623,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after acquiring an additional 161 shares in the last quarter. 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 valued at $28,000 after purchasing an additional 306 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Pure Storage during the 3rd quarter worth approximately $31,000. FSC Wealth Advisors LLC bought a new stake in shares of Pure Storage during the 2nd quarter worth approximately $33,000. Finally, City State Bank raised its stake in shares of Pure Storage by 175.0% during the 2nd quarter. City State Bank now owns 550 shares of the technology company’s stock worth $35,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now directly owns 500,000 shares in the company, valued at $24,970,000. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive now owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. This trade represents a 8.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 454,542 shares of company stock valued at $24,775,030 in the last 90 days. 6.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PSTG. TD Cowen lowered their target price 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. Piper Sandler dropped their price objective on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Susquehanna restated a “positive” rating and issued a $80.00 price target on shares of Pure Storage in a research note on Monday, August 26th. Finally, UBS Group reduced their price objective on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and an average price target of $68.15.

Pure Storage Stock Performance

NYSE PSTG opened at $48.19 on Monday. The firm’s 50 day simple moving average is $51.41 and its 200 day simple moving average is $56.92. The firm has a market capitalization of $15.79 billion, a price-to-earnings ratio of 120.48, a P/E/G ratio of 6.54 and a beta of 1.10. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The company had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. As a group, research analysts expect that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

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.