Penserra Capital Management LLC Sells 21,084 Shares of Pure Storage, Inc. (NYSE:PSTG)

Penserra Capital Management LLC decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 29.8% during the third quarter, Holdings Channel.com reports. The firm owned 49,583 shares of the technology company’s stock after selling 21,084 shares during the period. Penserra Capital Management LLC’s holdings in Pure Storage were worth $2,489,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PSTG. Citigroup Inc. grew its holdings in Pure Storage by 11.3% during the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after purchasing an additional 14,659 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Pure Storage by 22.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after buying an additional 747,034 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Pure Storage in the third quarter worth approximately $392,000. Banque Cantonale Vaudoise lifted its stake in shares of Pure Storage by 10.3% during the 3rd quarter. Banque Cantonale Vaudoise now owns 4,637 shares of the technology company’s stock worth $233,000 after acquiring an additional 433 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its holdings in Pure Storage by 22.9% during the 3rd quarter. Prospera Financial Services Inc now owns 4,960 shares of the technology company’s stock valued at $249,000 after acquiring an additional 925 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Stock Performance

NYSE PSTG opened at $53.75 on Tuesday. 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 1-year low of $31.00 and a 1-year high of $70.41. The company has a market cap of $17.61 billion, a PE ratio of 134.38, a price-to-earnings-growth ratio of 7.01 and a beta of 1.10. The stock’s 50 day simple moving average is $51.79 and its 200-day simple moving average is $56.88.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $756.59 million. As a group, equities research analysts anticipate that Pure Storage, Inc. will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction 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 completion of the sale, the executive now directly owns 94,446 shares of the company’s stock, valued at $4,785,578.82. This trade represents a 8.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the transaction, the insider now directly owns 300,000 shares in the company, valued at approximately $17,196,000. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 354,542 shares of company stock worth $18,599,030. 6.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSTG. Citigroup lowered their target price on shares of Pure Storage from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Needham & Company LLC dropped their target price on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Stifel Nicolaus decreased their price target on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, August 29th. Guggenheim increased their price objective on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Oppenheimer started coverage on Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 target price for the company. 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. According to data from MarketBeat, Pure Storage has an average rating of “Moderate Buy” and an average price target of $67.95.

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.