Swedbank AB Has $2.12 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

Swedbank AB trimmed its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 42,138 shares of the technology company’s stock after selling 1,177 shares during the period. Swedbank AB’s holdings in Pure Storage were worth $2,117,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted 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 worth $27,000 after purchasing an additional 161 shares during the period. Larson Financial Group LLC boosted its position in 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 period. FSC Wealth Advisors LLC bought a new position in Pure Storage during the second quarter worth $33,000. ORG Partners LLC bought a new position in Pure Storage during the second quarter worth $35,000. Finally, City State Bank boosted its position in Pure Storage by 175.0% during the second quarter. City State Bank now owns 550 shares of the technology company’s stock worth $35,000 after purchasing an additional 350 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the completion of the transaction, the insider now owns 500,000 shares of the company’s stock, valued at approximately $24,970,000. The trade was a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mona Chu sold 25,000 shares of the business’s stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 354,542 shares of company stock valued at $18,599,030. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Stock Down 3.1 %

Shares of NYSE PSTG opened at $52.93 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The company has a market cap of $17.34 billion, a price-to-earnings ratio of 132.33, a PEG ratio of 7.30 and a beta of 1.10. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The stock has a 50-day moving average price of $51.95 and a two-hundred day moving average price of $56.86.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. The firm had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. As a group, analysts forecast that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PSTG. Guggenheim lifted 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. TD Cowen reduced their target price on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Susquehanna reissued a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. William Blair reissued an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Finally, Piper Sandler reduced their target price on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $67.95.

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.