Pure Storage, Inc. (NYSE:PSTG) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 11.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 195,173 shares of the technology company’s stock after selling 24,286 shares during the quarter. ARK Investment Management LLC owned 0.06% of Pure Storage worth $9,805,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSTG. Massmutual Trust Co. FSB ADV raised its position in Pure Storage by 61.2% during the 2nd 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 raised its holdings in shares of Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after purchasing an additional 306 shares during the last quarter. FSC Wealth Advisors LLC acquired a new position in Pure Storage during the second quarter valued at $33,000. ORG Partners LLC purchased a new stake in Pure Storage in the second quarter valued at $35,000. Finally, City State Bank raised its stake 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 valued at $35,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Down 0.3 %

Shares of NYSE PSTG opened at $53.93 on Friday. The company has a market capitalization of $17.67 billion, a P/E ratio of 134.83, a P/E/G ratio of 7.80 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The company 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 1 year low of $31.00 and a 1 year high of $70.41.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, topping 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 company had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. On average, equities research analysts predict that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

PSTG has been the topic of several analyst reports. Raymond James dropped their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Lake Street Capital lowered their price target on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Piper Sandler cut 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. Evercore ISI reduced 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, Susquehanna reaffirmed a “positive” rating and set a $80.00 price objective on shares of Pure Storage in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and an average target price of $68.05.

Insider Buying and Selling

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $4,785,578.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction that occurred 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 completion of the sale, the executive now owns 94,446 shares in the company, valued at approximately $4,785,578.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction on 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 owns 96,639 shares in the company, valued at $4,862,874.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 454,542 shares of company stock valued at $24,775,030. 6.00% of the stock is currently owned by insiders.

Pure Storage 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.