Pure Storage, Inc. (NYSE:PSTG) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 30.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 455,662 shares of the technology company’s stock after selling 200,839 shares during the period. William Blair Investment Management LLC owned approximately 0.14% of Pure Storage worth $29,258,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in Pure Storage during the first quarter worth about $25,000. Fidelis Capital Partners LLC acquired a new position in Pure Storage during the first quarter worth about $27,000. Massmutual Trust Co. FSB ADV grew its holdings in 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 holdings in Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after acquiring an additional 306 shares during the period. Finally, Principal Securities Inc. acquired a new position in Pure Storage during the fourth quarter worth about $31,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Up 1.3 %

Shares of Pure Storage stock opened at $48.90 on Monday. The firm has a market cap of $15.90 billion, a price-to-earnings ratio of 174.64, a P/E/G ratio of 7.40 and a beta of 1.11. 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 52-week low of $31.00 and a 52-week high of $70.41. The stock has a 50-day simple moving average of $57.26 and a 200-day simple moving average of $57.21.

Insider Activity

In other news, CRO Dan Fitzsimons sold 9,881 shares of Pure Storage stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $59.32, for a total transaction of $586,140.92. Following the completion of the sale, the executive now directly owns 115,601 shares in the company, valued at approximately $6,857,451.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $59.50, for a total value of $5,950,000.00. Following the transaction, the insider now directly owns 900,000 shares of the company’s stock, valued at approximately $53,550,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 9,881 shares of the firm’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 value of $586,140.92. Following the completion of the transaction, the executive now directly owns 115,601 shares in the company, valued at $6,857,451.32. The disclosure for this sale can be found here. Insiders sold a total of 324,177 shares of company stock worth $18,863,083 in the last three months. 6.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on PSTG. UBS Group lowered their target price on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Evercore ISI decreased their price target on Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Susquehanna reiterated a “positive” rating and issued a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. Barclays increased their price target on Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Finally, Stifel Nicolaus decreased their price target on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.95.

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.