Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 95.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,027 shares of the technology company’s stock after selling 94,744 shares during the period. Los Angeles Capital Management LLC’s holdings in Pure Storage were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its position in Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after purchasing an additional 161 shares during the period. Larson Financial Group LLC raised its holdings in Pure Storage by 242.9% in the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after buying an additional 306 shares during the period. ORG Wealth Partners LLC acquired a new position in Pure Storage in the third quarter valued at about $31,000. FSC Wealth Advisors LLC purchased a new position in Pure Storage during the second quarter worth about $33,000. Finally, City State Bank increased its position in shares of Pure Storage by 175.0% during the second quarter. City State Bank now owns 550 shares of the technology company’s stock valued at $35,000 after acquiring an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Performance

Shares of Pure Storage stock opened at $49.54 on Tuesday. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The firm’s 50 day moving average is $51.41 and its two-hundred day moving average is $56.97. The firm has a market capitalization of $16.23 billion, a P/E ratio of 120.48, a P/E/G ratio of 6.54 and a beta of 1.10.

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

Insiders Place Their Bets

In related news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction 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 sale, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. This represents a 8.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction on Wednesday, September 25th. The shares were 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 owns 96,639 shares in the company, valued at approximately $4,862,874.48. This represents a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 354,542 shares of company stock valued at $18,599,030. 6.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Raymond James lowered their price objective on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Needham & Company LLC cut their price objective on Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Piper Sandler dropped their target price on Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Oppenheimer began coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. Finally, TD Cowen dropped their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.15.

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.