Curi RMB Capital LLC Reduces Position in Pure Storage, Inc. (NYSE:PSTG)

Curi RMB Capital LLC decreased its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 27.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,770 shares of the technology company's stock after selling 10,816 shares during the period. Curi RMB Capital LLC's holdings in Pure Storage were worth $1,445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its holdings in Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company's stock worth $27,000 after buying an additional 161 shares during the last quarter. Nvwm LLC boosted its position in Pure Storage by 23.3% in the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company's stock valued at $52,000 after buying an additional 194 shares during the period. Harbour Investments Inc. boosted its stake in shares of 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 buying an additional 202 shares during the period. Michael S. Ryan Inc. raised its stake in Pure Storage by 4.8% in the second quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company's stock valued at $292,000 after buying an additional 208 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock valued at $38,000 after acquiring an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insider Transactions at Pure Storage

In other 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 value of $4,994,000.00. Following the completion of the sale, the insider now directly owns 500,000 shares in the company, valued at $24,970,000. The trade was a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mona Chu sold 25,000 shares of the firm'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 completion of the transaction, the chief accounting officer now directly owns 96,639 shares in the company, valued at approximately $4,862,874.48. This represents a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 454,542 shares of company stock worth $24,775,030. 6.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PSTG has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Pure Storage from $75.00 to $67.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. UBS Group decreased their price target on Pure Storage from $47.00 to $45.00 and set a "sell" rating for the company in a report on Thursday, August 29th. Raymond James dropped their target price on shares of Pure Storage from $73.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, August 29th. Stifel Nicolaus dropped their price target on Pure Storage from $65.00 to $60.00 and set a "hold" rating on the stock in a research report on Thursday, August 29th. Finally, Northland Securities reaffirmed a "market perform" rating and issued a $59.00 price target (down from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.15.

Pure Storage Stock Down 3.3 %

Shares of NYSE PSTG traded down $1.64 during mid-day trading on Friday, reaching $48.19. 2,354,109 shares of the company's stock traded hands, compared to its average volume of 3,677,456. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The business has a 50-day simple moving average of $51.41 and a 200 day simple moving average of $56.87. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41. The stock has a market cap of $15.79 billion, a P/E ratio of 120.45, a PEG ratio of 7.93 and a beta of 1.10.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 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 business had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. On average, analysts expect that Pure Storage, Inc. will post 0.42 EPS for the current fiscal year.

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.