Sumitomo Mitsui Trust Group Inc. Has $105.52 Million Holdings in Pure Storage, Inc. (NYSE:PSTG)

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,100,381 shares of the technology company's stock after selling 134,001 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.64% of Pure Storage worth $105,523,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PSTG. Massmutual Trust Co. FSB ADV raised 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 valued at $27,000 after acquiring an additional 161 shares during the last quarter. Nvwm LLC grew its holdings in Pure Storage by 23.3% in the third quarter. Nvwm LLC now owns 1,027 shares of the technology company's stock valued at $52,000 after purchasing an additional 194 shares during the period. Harbour Investments Inc. increased its holdings in shares of Pure Storage by 3.0% during the 2nd quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company's stock worth $444,000 after buying an additional 202 shares during the last quarter. Michael S. Ryan Inc. boosted its holdings 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 acquiring an additional 208 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Pure Storage by 40.9% during 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 period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on PSTG. Stifel Nicolaus cut their price target 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 started coverage on shares of Pure Storage in a research report on Wednesday. They set an "outperform" rating and a $70.00 price target for the company. TD Cowen reduced their price objective on Pure Storage from $80.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Evercore ISI dropped their target price on Pure Storage from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, August 29th. Finally, Raymond James decreased their price target on Pure Storage from $73.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued 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 price target of $68.15.

Insider Buying and Selling

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider John Colgrove sold 100,000 shares of the firm's 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 completion of the transaction, the insider now owns 500,000 shares of the company's stock, valued at $24,970,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction dated 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 transaction, the chief accounting officer now directly 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 454,542 shares of company stock valued at $24,775,030 over the last 90 days. 6.00% of the stock is currently owned by company insiders.

Pure Storage Stock Performance

NYSE:PSTG traded up $0.10 during mid-day trading on Thursday, hitting $49.97. The stock had a trading volume of 755,064 shares, compared to its average volume of 3,677,916. 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 company has a 50 day simple moving average of $51.31 and a 200-day simple moving average of $56.95. The stock has a market capitalization of $16.37 billion, a price-to-earnings ratio of 124.68, a P/E/G ratio of 7.86 and a beta of 1.10. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.10. The business had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. On average, research analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal 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.