Pembroke Management LTD Sells 42,395 Shares of Pure Storage, Inc. (NYSE:PSTG)

Pembroke Management LTD lessened its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 9.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 418,511 shares of the technology company's stock after selling 42,395 shares during the period. Pure Storage makes up 2.7% of Pembroke Management LTD's portfolio, making the stock its 14th biggest position. Pembroke Management LTD owned approximately 0.13% of Pure Storage worth $21,026,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in Pure Storage during the 1st quarter valued at $1,675,000. Norden Group LLC acquired a new stake in Pure Storage in the first quarter worth about $458,000. Maryland State Retirement & Pension System grew its position in Pure Storage by 5.4% in the 1st quarter. Maryland State Retirement & Pension System now owns 22,628 shares of the technology company's stock valued at $1,188,000 after buying an additional 1,164 shares in the last quarter. Private Advisor Group LLC increased its stake in Pure Storage by 27.4% during the 1st quarter. Private Advisor Group LLC now owns 14,312 shares of the technology company's stock valued at $744,000 after buying an additional 3,077 shares during the period. Finally, Tobam bought a new stake in shares of Pure Storage during the 1st quarter worth about $168,000. 83.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PSTG shares. Stifel Nicolaus decreased their price objective on shares of Pure Storage from $65.00 to $60.00 and set a "hold" rating for the company in a report on Thursday, August 29th. Susquehanna reissued a "positive" rating and issued a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. Citigroup cut their price objective on Pure Storage from $75.00 to $67.00 and set a "buy" rating for the company in a report on Thursday, August 29th. Guggenheim boosted their price target on shares of Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Finally, Raymond James cut their price target on shares of Pure Storage from $73.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Pure Storage has an average rating of "Moderate Buy" and a consensus price target of $68.05.

Pure Storage Stock Up 1.8 %

Shares of NYSE:PSTG traded up $0.90 on Friday, reaching $50.95. The company had a trading volume of 1,916,968 shares, compared to its average volume of 2,375,943. The stock has a market capitalization of $16.70 billion, a P/E ratio of 127.38, a P/E/G ratio of 7.85 and a beta of 1.10. The stock has a 50-day moving average price of $51.61 and a 200 day moving average price of $56.97. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve 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.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, topping 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 firm had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. On average, equities analysts expect that Pure Storage, Inc. will post 0.43 EPS for the current year.

Insiders Place Their Bets

In other news, insider John Colgrove sold 100,000 shares of the firm's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total value of $6,176,000.00. Following the sale, the insider now directly owns 700,000 shares of the company's stock, valued at approximately $43,232,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the sale, the executive now directly owns 94,446 shares of the company's stock, valued at $4,785,578.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the firm's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total value of $6,176,000.00. Following the completion of the transaction, the insider now directly owns 700,000 shares of the company's stock, valued at approximately $43,232,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 554,542 shares of company stock valued at $30,014,030 in the last quarter. Insiders own 6.00% of the company's stock.

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.