Penserra Capital Management LLC Has $2.49 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

Penserra Capital Management LLC lowered its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 29.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 49,583 shares of the technology company's stock after selling 21,084 shares during the period. Penserra Capital Management LLC's holdings in Pure Storage were worth $2,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Pure Storage by 56.1% during 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 purchasing an additional 1,327,873 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Pure Storage by 22.5% during the 3rd 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 purchasing an additional 747,034 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Pure Storage by 52.0% during the 2nd quarter. AQR Capital Management LLC now owns 917,804 shares of the technology company's stock valued at $58,932,000 after purchasing an additional 314,164 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Pure Storage during the 2nd quarter valued at approximately $19,278,000. Finally, Baader Bank Aktiengesellschaft increased its holdings in shares of Pure Storage by 103.7% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,000 shares of the technology company's stock valued at $642,000 after purchasing an additional 282,000 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Evercore ISI lowered their target price 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. Needham & Company LLC reduced their price objective on shares of Pure Storage from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. Raymond James cut their price target on shares of Pure Storage from $73.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, August 29th. Wedbush reissued an "outperform" rating and set a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. Finally, Oppenheimer initiated coverage on Pure Storage in a report on Wednesday, November 13th. They issued an "outperform" rating and a $70.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.95.

Pure Storage Price Performance

NYSE:PSTG traded up $0.86 during trading hours on Tuesday, reaching $54.60. The company had a trading volume of 2,125,012 shares, compared to its average volume of 3,640,434. The stock has a 50-day moving average of $51.79 and a two-hundred day moving average of $56.88. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. The firm has a market capitalization of $17.89 billion, a PE ratio of 134.38, a PEG ratio of 7.01 and a beta of 1.10. 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 announced its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS 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 company had revenue of $763.77 million for the quarter, compared to analysts' expectations of $756.59 million. Analysts forecast that Pure Storage, Inc. will post 0.42 earnings per share for the current year.

Insider Buying and Selling

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage 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 of the company's stock, valued at $24,970,000. The trade was a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mona Chu sold 25,000 shares of Pure Storage 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 transaction, the chief accounting officer now owns 96,639 shares in the company, valued at approximately $4,862,874.48. The trade was a 20.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 354,542 shares of company stock worth $18,599,030. 6.00% of the stock is owned by corporate insiders.

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.