Victory Capital Management Inc. Has $11.58 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Victory Capital Management Inc. boosted its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 6.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 230,393 shares of the technology company's stock after purchasing an additional 14,901 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of Pure Storage worth $11,575,000 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 PSTG. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Pure Storage by 61.2% during the second 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. Larson Financial Group LLC lifted its stake in shares of Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company's stock valued at $28,000 after buying an additional 306 shares during the period. FSC Wealth Advisors LLC bought a new position in Pure Storage during the second quarter valued at about $33,000. ORG Partners LLC acquired a new position in Pure Storage in the 2nd quarter valued at approximately $35,000. Finally, City State Bank grew its holdings in shares of Pure Storage by 175.0% during the 2nd quarter. City State Bank now owns 550 shares of the technology company's stock worth $35,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Transactions at Pure Storage

In related news, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the sale, the chief accounting officer now owns 96,639 shares of the company's stock, valued at approximately $4,862,874.48. The trade was a 20.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now directly owns 94,446 shares of the company's stock, valued at approximately $4,785,578.82. The trade was a 8.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 354,542 shares of company stock worth $18,599,030 in the last 90 days. Corporate insiders own 6.00% of the company's stock.

Pure Storage Trading Down 0.3 %

Pure Storage stock opened at $49.77 on Thursday. The company has a market cap of $16.31 billion, a price-to-earnings ratio of 124.43, a P/E/G ratio of 6.77 and a beta of 1.10. The firm has a 50-day moving average of $51.58 and a 200-day moving average of $56.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41.

Pure Storage (NYSE:PSTG - Get Free Report) last released its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.10. The business had revenue of $763.77 million for 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, equities analysts expect that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their price objective on shares of Pure Storage from $60.00 to $56.00 and set a "neutral" rating for the company in a report on Thursday, August 29th. Susquehanna reiterated a "positive" rating and issued a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. Northland Securities reissued a "market perform" rating and set a $59.00 price target (down from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Evercore ISI dropped their price target on Pure Storage from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, August 29th. Finally, Guggenheim boosted their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $67.95.

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.