Nisa Investment Advisors LLC Has $27,000 Stake in Pure Storage, Inc. (NYSE:PSTG)

Nisa Investment Advisors LLC lowered its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 98.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 541 shares of the technology company's stock after selling 26,795 shares during the period. Nisa Investment Advisors LLC's holdings in Pure Storage were worth $27,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PSTG. Massmutual Trust Co. FSB ADV raised its stake 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 buying an additional 161 shares during the period. Harbour Investments Inc. raised its stake in Pure Storage by 3.0% in 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. lifted its holdings in Pure Storage by 4.8% during the 2nd quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company's stock valued at $292,000 after purchasing an additional 208 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Pure Storage by 3.2% during the 2nd quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company's stock valued at $462,000 after purchasing an additional 223 shares during the last quarter. Finally, Hanseatic Management Services Inc. boosted its position in Pure Storage by 2.4% during the second quarter. Hanseatic Management Services Inc. now owns 12,579 shares of the technology company's stock worth $808,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Lake Street Capital cut their target price on shares of Pure Storage from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Needham & Company LLC cut their price objective on shares of Pure Storage from $80.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, August 29th. Raymond James reduced their price objective on Pure Storage from $73.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, August 29th. Wedbush reiterated an "outperform" rating and set a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Finally, Evercore ISI reduced their price target on Pure Storage from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $68.05.

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now directly owns 500,000 shares of the company's stock, valued at approximately $24,970,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction on Thursday, September 19th. The stock was 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 in the company, valued at approximately $24,970,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the business's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the sale, the chief accounting officer now owns 96,639 shares in the company, valued at $4,862,874.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 454,542 shares of company stock valued at $24,775,030. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Price Performance

NYSE:PSTG traded down $1.02 during mid-day trading on Friday, reaching $52.91. The stock had a trading volume of 2,665,902 shares, compared to its average volume of 3,663,872. The stock has a 50-day simple moving average of $51.19 and a two-hundred day simple moving average of $56.94. 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 12 month low of $31.00 and a 12 month high of $70.41. The stock has a market capitalization of $17.34 billion, a PE ratio of 132.28, a P/E/G ratio of 8.48 and a beta of 1.10.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly 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 return on equity of 17.41% and a net margin of 4.53%. The company had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. On average, equities analysts anticipate that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

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.