Congress Asset Management Co. Has $94.47 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Congress Asset Management Co. decreased its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,880,334 shares of the technology company's stock after selling 220,339 shares during the period. Congress Asset Management Co. owned approximately 0.58% of Pure Storage worth $94,468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State of Michigan Retirement System purchased a new stake in Pure Storage during the first quarter worth approximately $3,790,000. State of Alaska Department of Revenue acquired a new stake in shares of Pure Storage during the first quarter worth $1,675,000. Norden Group LLC bought a new position in shares of Pure Storage during the first quarter worth about $458,000. Maryland State Retirement & Pension System grew its position in shares of Pure Storage by 5.4% during the first quarter. Maryland State Retirement & Pension System now owns 22,628 shares of the technology company's stock worth $1,188,000 after acquiring an additional 1,164 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in shares of Pure Storage by 27.4% during the first quarter. Private Advisor Group LLC now owns 14,312 shares of the technology company's stock worth $744,000 after acquiring an additional 3,077 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Activity at Pure Storage

In other news, CAO Mona Chu sold 25,000 shares of the business's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,639 shares in the company, valued at approximately $4,862,874.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the sale, the insider now owns 700,000 shares of the company's stock, valued at $43,232,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the firm's stock in a transaction dated 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 directly owns 96,639 shares in the company, valued at $4,862,874.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 554,542 shares of company stock valued at $30,014,030. Corporate insiders own 6.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSTG. UBS Group reduced their price target on shares of Pure Storage from $47.00 to $45.00 and set a "sell" rating for the company in a research report on Thursday, August 29th. TD Cowen lowered their price target on Pure Storage from $80.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. Guggenheim raised their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Susquehanna reaffirmed a "positive" rating and issued a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. Finally, Needham & Company LLC cut their price objective on Pure Storage from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Pure Storage currently has an average rating of "Moderate Buy" and a consensus price target of $68.05.

Pure Storage Trading Down 6.2 %

Shares of PSTG stock traded down $3.33 during mid-day trading on Thursday, reaching $50.08. The company's stock had a trading volume of 3,028,762 shares, compared to its average volume of 3,702,465. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The firm has a market capitalization of $16.41 billion, a PE ratio of 128.13, a price-to-earnings-growth ratio of 8.47 and a beta of 1.11. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The company's 50 day simple moving average is $52.04 and its 200-day simple moving average is $56.97.

Pure Storage (NYSE:PSTG - Get Free Report) last posted 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 business had revenue of $763.77 million during 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, research analysts predict that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

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.