Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV trimmed its position in Pure Storage, Inc. (NYSE:PSTG – Get Rating) by 6.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,151 shares of the technology company’s stock after selling 847 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Pure Storage were worth $325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new position in Pure Storage during the 3rd quarter worth approximately $31,000. Parkside Financial Bank & Trust acquired a new stake in shares of Pure Storage during the 1st quarter valued at approximately $33,000. Accurate Wealth Management LLC bought a new position in Pure Storage during the fourth quarter worth $39,000. AdvisorNet Financial Inc boosted its holdings in Pure Storage by 280.5% in the fourth quarter. AdvisorNet Financial Inc now owns 1,560 shares of the technology company’s stock worth $42,000 after purchasing an additional 1,150 shares during the period. Finally, Antonetti Capital Management LLC bought a new stake in Pure Storage during the fourth quarter valued at $45,000. 84.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on PSTG shares. Wedbush raised shares of Pure Storage from a “neutral” rating to an “outperform” rating and set a $34.00 price target for the company in a report on Thursday, April 6th. Barclays reduced their price objective on Pure Storage from $42.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. JPMorgan Chase & Co. dropped their target price on Pure Storage from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, March 2nd. Credit Suisse Group reissued an “outperform” rating and set a $40.00 price target on shares of Pure Storage in a report on Thursday, March 2nd. Finally, Raymond James increased their price objective on shares of Pure Storage from $40.00 to $43.00 and gave the stock a “strong-buy” rating in a report on Thursday, March 2nd. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pure Storage currently has an average rating of “Buy” and an average target price of $37.11.

Pure Storage Stock Performance

NYSE PSTG opened at $24.53 on Thursday. The stock has a market capitalization of $7.56 billion, a P/E ratio of 116.81, a P/E/G ratio of 13.78 and a beta of 1.22. Pure Storage, Inc. has a 1 year low of $22.14 and a 1 year high of $32.45. The business’s fifty day moving average is $24.20 and its two-hundred day moving average is $26.89.

Pure Storage (NYSE:PSTG – Get Rating) last posted its quarterly earnings results on Wednesday, March 1st. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.17. The company had revenue of $810.21 million for the quarter, compared to analysts’ expectations of $811.30 million. Pure Storage had a return on equity of 16.59% and a net margin of 2.65%. On average, research analysts forecast that Pure Storage, Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 28,481 shares of Pure Storage stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $24.49, for a total value of $697,499.69. Following the transaction, the executive now owns 192,530 shares of the company’s stock, valued at approximately $4,715,059.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Roxanne Taylor sold 19,155 shares of the stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $26.08, for a total value of $499,562.40. Following the completion of the sale, the director now directly owns 63,416 shares of the company’s stock, valued at approximately $1,653,889.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 28,481 shares of the stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $24.49, for a total value of $697,499.69. Following the completion of the sale, the executive now directly owns 192,530 shares of the company’s stock, valued at $4,715,059.70. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by company insiders.

Pure Storage Profile

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Pure Storage, Inc engages in the business of delivering innovative and disruptive data storage, products, and services that enable customers to maximize the value of data. The firm is also involved in the provision of data storage and management with a mission to redefine the storage experience by simplifying how people consume and interact with data.