Pure Storage, Inc. (NYSE:PSTG) Stake Lifted by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 399.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 322,586 shares of the technology company's stock after acquiring an additional 258,044 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.10% of Pure Storage worth $16,207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nvwm LLC raised its stake in shares of 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 acquiring an additional 194 shares during the period. Emerald Advisers LLC raised its position in Pure Storage by 39.2% in the third quarter. Emerald Advisers LLC now owns 5,935 shares of the technology company's stock valued at $298,000 after purchasing an additional 1,670 shares during the period. Janney Montgomery Scott LLC acquired a new position in Pure Storage during the third quarter worth $2,033,000. Farther Finance Advisors LLC boosted its position in shares of Pure Storage by 30.8% during the third quarter. Farther Finance Advisors LLC now owns 2,077 shares of the technology company's stock worth $104,000 after buying an additional 489 shares during the period. Finally, JFS Wealth Advisors LLC grew its stake in shares of Pure Storage by 4,138.3% in the third quarter. JFS Wealth Advisors LLC now owns 2,543 shares of the technology company's stock valued at $128,000 after buying an additional 2,483 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider John Colgrove sold 100,000 shares of the company's stock in a transaction dated 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 sale, the insider now owns 500,000 shares of the company's stock, valued at $24,970,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $1,258,000.00. Following the sale, the chief accounting officer now 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 disclosure for this sale can be found here. Insiders sold a total of 454,542 shares of company stock valued at $24,775,030 over the last 90 days. Insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

PSTG has been the subject of several research reports. Evercore ISI dropped their target price on Pure Storage from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, August 29th. Wedbush reaffirmed an "outperform" rating and set a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Lake Street Capital decreased their price target on shares of Pure Storage from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Thursday, August 29th. UBS Group reduced their price objective on Pure Storage from $47.00 to $45.00 and set a "sell" rating on the stock in a research note on Thursday, August 29th. Finally, Piper Sandler decreased their price objective on Pure Storage from $60.00 to $56.00 and set a "neutral" rating for the company in a research note 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 given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $68.05.

Pure Storage Price Performance

Shares of PSTG traded down $0.14 during trading hours on Thursday, reaching $53.93. The company had a trading volume of 1,240,497 shares, compared to its average volume of 3,664,949. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $51.08 and a 200-day simple moving average of $56.95. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The company has a market capitalization of $17.67 billion, a price-to-earnings ratio of 135.15, a PEG ratio of 7.80 and a beta of 1.10.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share 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 firm had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Research analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

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.