Diversified Trust Co Cuts Holdings in Pure Storage, Inc. (NYSE:PSTG)

Diversified Trust Co cut its holdings in Pure Storage, Inc. (NYSE:PSTG) by 43.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,047 shares of the technology company’s stock after selling 36,302 shares during the quarter. Diversified Trust Co’s holdings in Pure Storage were worth $3,085,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Pure Storage by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock valued at $41,666,000 after acquiring an additional 28,086 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Pure Storage during the fourth quarter worth $514,000. Private Advisor Group LLC boosted its position in Pure Storage by 44.1% during the fourth quarter. Private Advisor Group LLC now owns 11,235 shares of the technology company’s stock worth $401,000 after purchasing an additional 3,437 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Pure Storage by 13.2% in the fourth quarter. Mackenzie Financial Corp now owns 533,530 shares of the technology company’s stock valued at $19,026,000 after purchasing an additional 62,274 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. increased its position in shares of Pure Storage by 83.9% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,068,255 shares of the technology company’s stock valued at $73,733,000 after buying an additional 943,850 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the completion of the sale, the insider now owns 900,000 shares of the company’s stock, valued at approximately $53,550,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Pure Storage news, Director Mallun Yen sold 4,818 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $64.78, for a total value of $312,110.04. Following the sale, the director now directly owns 35,498 shares in the company, valued at $2,299,560.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the transaction, the insider now directly owns 900,000 shares of the company’s stock, valued at approximately $53,550,000. The disclosure for this sale can be found here. Insiders sold a total of 228,995 shares of company stock valued at $12,999,193 over the last 90 days. 6.00% of the stock is owned by company insiders.

Pure Storage Stock Up 0.5 %

Shares of PSTG traded up $0.30 during trading on Wednesday, reaching $59.89. The company’s stock had a trading volume of 194,958 shares, compared to its average volume of 3,944,717. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The company has a quick ratio of 1.96, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a market cap of $19.48 billion, a price-to-earnings ratio of 212.93, a P/E/G ratio of 5.42 and a beta of 1.11. The company has a fifty day moving average of $62.20 and a two-hundred day moving average of $55.18.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, May 29th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Pure Storage had a net margin of 3.19% and a return on equity of 15.34%. The company had revenue of $693.48 million during the quarter, compared to the consensus estimate of $681.37 million. On average, sell-side analysts predict that Pure Storage, Inc. will post 0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stifel Nicolaus increased their target price on Pure Storage from $46.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Morgan Stanley cut Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective for the company. in a research report on Wednesday, June 12th. Guggenheim restated a “buy” rating and issued a $72.00 target price on shares of Pure Storage in a report on Tuesday, June 25th. KeyCorp lifted their price target on shares of Pure Storage from $64.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, TD Cowen upped their price objective on shares of Pure Storage from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.11.

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.