Harvest Fund Management Co. Ltd Cuts Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Harvest Fund Management Co. Ltd trimmed its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 79.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,967 shares of the technology company’s stock after selling 11,684 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Pure Storage were worth $149,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its position in Pure Storage by 61.2% during the second 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. Larson Financial Group LLC increased its position 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 in the last quarter. FSC Wealth Advisors LLC acquired a new position in shares of Pure Storage during the second quarter worth $33,000. ORG Partners LLC purchased a new stake in shares of Pure Storage during the 2nd quarter valued at $35,000. Finally, City State Bank boosted its position in shares of Pure Storage by 175.0% in 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. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

NYSE:PSTG opened at $52.93 on Thursday. 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 moving average price of $51.95 and a 200-day moving average price of $56.86. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of 132.33, a price-to-earnings-growth ratio of 7.30 and a beta of 1.10.

Pure Storage (NYSE:PSTG) last released 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. The company had revenue of $763.77 million during the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. Equities research analysts forecast that Pure Storage, Inc. will post 0.42 EPS for the current year.

Insider Activity

In other Pure Storage news, CAO Mona Chu sold 20,647 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the transaction, the chief accounting officer now directly owns 75,992 shares of the company’s stock, valued at $3,913,588. This trade represents a 21.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the sale, the insider now directly owns 300,000 shares of the company’s stock, valued at $17,196,000. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,542 shares of company stock worth $18,599,030 in the last ninety days. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

PSTG has been the topic of several recent analyst reports. Citigroup reduced their target price on Pure Storage from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Lake Street Capital decreased their price objective on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. William Blair reiterated an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Guggenheim upped their price target on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, TD Cowen lowered their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus 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.