Intech Investment Management LLC Sells 14,077 Shares of Pure Storage, Inc. (NYSE:PSTG)

Intech Investment Management LLC reduced its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 8.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 150,506 shares of the technology company's stock after selling 14,077 shares during the period. Intech Investment Management LLC's holdings in Pure Storage were worth $7,561,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSTG. Bank of New York Mellon Corp raised its stake in Pure Storage by 56.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company's stock valued at $237,345,000 after acquiring an additional 1,327,873 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of 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 buying an additional 747,034 shares during the period. AQR Capital Management LLC increased its position in shares of 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 buying an additional 314,164 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Pure Storage during the second quarter valued at about $19,278,000. Finally, Baader Bank Aktiengesellschaft increased its position in shares of 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 buying an additional 282,000 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the transaction, the insider now owns 300,000 shares in the company, valued at approximately $17,196,000. This represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold 354,542 shares of company stock valued at $18,599,030 over the last quarter. 6.00% of the stock is owned by company insiders.

Pure Storage Trading Up 0.2 %

Shares of NYSE:PSTG traded up $0.10 during trading on Friday, reaching $51.66. 2,431,756 shares of the company traded hands, compared to its average volume of 3,643,958. The business's fifty day moving average is $51.65 and its 200-day moving average is $56.85. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of 129.10, a P/E/G ratio of 6.77 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 (NYSE:PSTG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.10. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. The company had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. As a group, analysts forecast that Pure Storage, Inc. will post 0.42 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TD Cowen decreased their price target on Pure Storage from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. William Blair restated an "outperform" rating on shares of Pure Storage in a research report on Thursday, November 14th. Lake Street Capital decreased their price objective on shares of Pure Storage from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. Oppenheimer assumed coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They issued an "outperform" rating and a $70.00 price objective on the stock. Finally, Northland Securities reaffirmed a "market perform" rating and issued a $59.00 target price (down previously from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Pure Storage currently has an average rating of "Moderate Buy" and an average price target of $67.95.

Pure Storage 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.