Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 49.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 59,707 shares of the technology company's stock after selling 57,310 shares during the period. Natixis Advisors LLC's holdings in Pure Storage were worth $3,000,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV increased its holdings in shares of 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. Nvwm LLC raised its position in Pure Storage by 23.3% during 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. lifted its stake in Pure Storage by 3.0% during the 2nd quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company's stock valued at $444,000 after acquiring an additional 202 shares during the period. Michael S. Ryan Inc. boosted its holdings in shares of Pure Storage by 4.8% in the 2nd quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company's stock valued at $292,000 after acquiring an additional 208 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock worth $38,000 after acquiring an additional 219 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Pure Storage Trading Up 4.0 %

Pure Storage stock traded up $2.08 during midday trading on Monday, hitting $53.74. 4,355,250 shares of the stock were exchanged, compared to its average volume of 3,647,079. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $17.61 billion, a price-to-earnings ratio of 131.85, a PEG ratio of 7.01 and a beta of 1.10. The stock's 50-day simple moving average is $51.70 and its 200 day simple moving average is $56.89. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.10 by $0.10. The firm had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. On average, equities analysts anticipate that Pure Storage, Inc. will post 0.42 EPS for the current year.

Insider Activity

In related news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the transaction, the executive now owns 94,446 shares of the company's stock, valued at approximately $4,785,578.82. This represents a 8.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated 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 completion of the transaction, the insider now directly owns 500,000 shares of the company's stock, valued at approximately $24,970,000. This represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 354,542 shares of company stock valued at $18,599,030 in the last quarter. Insiders own 6.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PSTG shares. Guggenheim upped their price target on shares of Pure Storage from $72.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Piper Sandler lowered their target price on Pure Storage from $60.00 to $56.00 and set a "neutral" rating on the stock in a research note on Thursday, August 29th. Northland Securities reiterated a "market perform" rating and set a $59.00 price target (down from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Wedbush restated an "outperform" rating and issued a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. Finally, Evercore ISI dropped their price objective on shares of Pure Storage from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, August 29th. One investment 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $67.95.

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.