Atom Investors LP Reduces Holdings in Pure Storage, Inc. (NYSE:PSTG)

Atom Investors LP decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 69.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 8,552 shares of the technology company's stock after selling 19,625 shares during the period. Atom Investors LP's holdings in Pure Storage were worth $430,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of Pure Storage by 61.2% during the 2nd 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. Nvwm LLC grew its stake in shares of Pure Storage by 23.3% in the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company's stock worth $52,000 after buying an additional 194 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of Pure Storage by 3.0% in the 2nd quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company's stock worth $444,000 after buying an additional 202 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock worth $32,000 after buying an additional 212 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock worth $38,000 after buying an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insider Activity at Pure Storage

In related news, CAO Mona Chu sold 20,647 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the completion of the sale, the chief accounting officer now owns 75,992 shares of the company's stock, valued at approximately $3,913,588. This represents a 21.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the sale, the insider now directly owns 300,000 shares of the company's stock, valued at approximately $17,196,000. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 354,542 shares of company stock worth $18,599,030 over the last three months. Company insiders own 6.00% of the company's stock.

Pure Storage Stock Performance

Shares of PSTG traded down $2.77 during trading hours on Thursday, reaching $62.58. 6,290,992 shares of the company traded hands, compared to its average volume of 3,680,314. The stock has a market capitalization of $20.51 billion, a P/E ratio of 171.77, a P/E/G ratio of 7.27 and a beta of 1.13. The business has a fifty day moving average price of $52.49 and a 200-day moving average price of $56.78. Pure Storage, Inc. has a 12-month low of $31.79 and a 12-month high of $70.41. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PSTG shares. Citigroup upped their price objective on Pure Storage from $63.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday. Wedbush reiterated an "outperform" rating and issued a $80.00 price target on shares of Pure Storage in a research note on Monday, August 26th. William Blair reiterated an "outperform" rating on shares of Pure Storage in a research note on Thursday, November 14th. 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. Finally, Lake Street Capital lifted their price target on Pure Storage from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $72.10.

About Pure Storage

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.