Daiwa Securities Group Inc. Has $2.38 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Daiwa Securities Group Inc. trimmed its position in Pure Storage, Inc. (NYSE:PSTG) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,280 shares of the technology company’s stock after selling 1,422 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Pure Storage were worth $2,376,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PSTG. Bank of New York Mellon Corp lifted its position in shares of Pure Storage by 56.1% in the second quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock worth $237,345,000 after purchasing an additional 1,327,873 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Pure Storage by 22.5% during the third 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. AQR Capital Management LLC raised its position in Pure Storage by 52.0% during the second quarter. AQR Capital Management LLC now owns 917,804 shares of the technology company’s stock valued at $58,932,000 after acquiring an additional 314,164 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Pure Storage during the second quarter valued at approximately $19,278,000. Finally, Baader Bank Aktiengesellschaft raised its position in Pure Storage by 103.7% during the second quarter. Baader Bank Aktiengesellschaft now owns 10,000 shares of the technology company’s stock valued at $642,000 after acquiring an additional 282,000 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several recent research reports. Raymond James cut their price objective on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Guggenheim raised their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. 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 research report on Thursday, August 29th. Stifel Nicolaus cut 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 report on Thursday, August 29th. Finally, Needham & Company LLC lowered their price target on Pure Storage from $80.00 to $62.00 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 assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average target price of $67.95.

Insiders Place Their Bets

In other Pure Storage news, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. This trade represents a 20.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction 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 transaction, the insider now directly owns 500,000 shares of the company’s stock, valued at approximately $24,970,000. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 354,542 shares of company stock worth $18,599,030 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Stock Down 3.1 %

PSTG opened at $52.89 on Friday. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The firm’s fifty day moving average price is $52.02 and its two-hundred day moving average price is $56.83. The company has a market capitalization of $17.33 billion, a P/E ratio of 132.23, a P/E/G 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 earnings per share for the quarter, topping 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 firm had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. On average, analysts anticipate that Pure Storage, Inc. will post 0.42 EPS for the current 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.