Los Angeles Capital Management LLC Sells 94,744 Shares of Pure Storage, Inc. (NYSE:PSTG)

Los Angeles Capital Management LLC lowered its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 95.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,027 shares of the technology company's stock after selling 94,744 shares during the quarter. Los Angeles Capital Management LLC's holdings in Pure Storage were worth $202,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Crossmark Global Holdings Inc. lifted its holdings in Pure Storage by 9.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 21,555 shares of the technology company's stock valued at $1,082,000 after purchasing an additional 1,783 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Pure Storage by 15.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 725,000 shares of the technology company's stock valued at $36,424,000 after buying an additional 95,000 shares during the period. Montanaro Asset Management Ltd boosted its position in shares of Pure Storage by 64.9% during the 3rd quarter. Montanaro Asset Management Ltd now owns 3,050 shares of the technology company's stock worth $153,000 after acquiring an additional 1,200 shares in the last quarter. Sigma Planning Corp boosted its stake in Pure Storage by 35.6% in the third quarter. Sigma Planning Corp now owns 7,031 shares of the technology company's stock valued at $353,000 after buying an additional 1,847 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Pure Storage by 175.3% during the third quarter. Covestor Ltd now owns 991 shares of the technology company's stock worth $50,000 after buying an additional 631 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several research reports. Stifel Nicolaus dropped their price objective on shares of Pure Storage from $65.00 to $60.00 and set a "hold" rating on the stock in a report on Thursday, August 29th. Oppenheimer began coverage on Pure Storage in a research report on Wednesday, November 13th. They set an "outperform" rating and a $70.00 price objective on the stock. Northland Securities restated a "market perform" rating and issued a $59.00 price objective (down from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. Raymond James decreased their target price on shares of Pure Storage from $73.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, August 29th. Finally, Evercore ISI reduced their price target 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $67.95.

Pure Storage Stock Up 1.1 %

PSTG traded up $0.54 during trading on Tuesday, hitting $50.06. The company had a trading volume of 1,600,408 shares, compared to its average volume of 3,663,036. Pure Storage, Inc. has a one year low of $31.00 and a one year 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. The firm's 50-day moving average price is $51.47 and its 200 day moving average price is $56.95. The company has a market capitalization of $16.40 billion, a PE ratio of 123.55, a PEG ratio of 6.54 and a beta of 1.10.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $756.59 million. As a group, equities analysts expect that Pure Storage, Inc. will post 0.42 earnings per share for the current year.

Insider Activity

In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage 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 transaction, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. This trade represents a 8.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction 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. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 354,542 shares of company stock worth $18,599,030 in the last quarter. 6.00% of the stock is owned by corporate insiders.

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.