US Bancorp DE Lowers Position in Pure Storage, Inc. (NYSE:PSTG)

US Bancorp DE lessened its holdings in Pure Storage, Inc. (NYSE:PSTGGet Rating) by 1.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,701 shares of the technology company’s stock after selling 420 shares during the period. US Bancorp DE’s holdings in Pure Storage were worth $950,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M&T Bank Corp raised its position in shares of Pure Storage by 27.8% in the second quarter. M&T Bank Corp now owns 9,023 shares of the technology company’s stock worth $224,000 after buying an additional 1,964 shares in the last quarter. IMA Wealth Inc. purchased a new stake in Pure Storage during the second quarter valued at about $815,000. Fox Run Management L.L.C. purchased a new stake in Pure Storage during the second quarter valued at about $314,000. AE Wealth Management LLC purchased a new stake in Pure Storage during the second quarter valued at about $549,000. Finally, Prescott Group Capital Management L.L.C. purchased a new stake in Pure Storage during the second quarter valued at about $848,000. Hedge funds and other institutional investors own 84.96% of the company’s stock.

Pure Storage Price Performance

NYSE PSTG opened at $25.89 on Friday. The stock has a market capitalization of $7.83 billion, a PE ratio of 647.41, a PEG ratio of 5.73 and a beta of 1.28. Pure Storage, Inc. has a 1 year low of $21.90 and a 1 year high of $36.71. The business’s 50-day moving average is $28.43 and its 200 day moving average is $28.47.

Pure Storage (NYSE:PSTGGet Rating) last released its earnings results on Wednesday, November 30th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.09. Pure Storage had a net margin of 0.51% and a return on equity of 13.11%. The firm had revenue of $676.05 million during the quarter, compared to analyst estimates of $671.84 million. As a group, equities research analysts anticipate that Pure Storage, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Susquehanna Bancshares raised their price target on Pure Storage from $40.00 to $44.00 in a research report on Thursday, December 1st. Susquehanna raised their price target on Pure Storage from $40.00 to $44.00 in a research report on Thursday, December 1st. TheStreet upgraded Pure Storage from a “c” rating to a “b” rating in a report on Wednesday, November 30th. JPMorgan Chase & Co. decreased their price objective on Pure Storage from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, November 25th. Finally, Credit Suisse Group decreased their price objective on Pure Storage from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, December 1st. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.94.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 10,918 shares of the business’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $27.62, for a total transaction of $301,555.16. Following the completion of the sale, the executive now directly owns 119,217 shares in the company, valued at approximately $3,292,773.54. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Gregory Tomb sold 10,643 shares of the company’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $26.65, for a total transaction of $283,635.95. Following the sale, the director now directly owns 30,544 shares in the company, valued at approximately $813,997.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Dan Fitzsimons sold 10,918 shares of the company’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $27.62, for a total transaction of $301,555.16. Following the sale, the executive now owns 119,217 shares in the company, valued at $3,292,773.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,170 shares of company stock worth $1,605,075. Insiders own 6.80% of the company’s stock.

Pure Storage Profile

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Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

See Also

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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