SG Americas Securities LLC Grows Position in Pure Storage, Inc. (NYSE:PSTG)

SG Americas Securities LLC grew its stake in Pure Storage, Inc. (NYSE:PSTG) by 947.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,807 shares of the technology company’s stock after purchasing an additional 50,477 shares during the period. SG Americas Securities LLC’s holdings in Pure Storage were worth $2,804,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Pure Storage by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock valued at $1,652,735,000 after buying an additional 495,183 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Pure Storage by 56.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock worth $237,345,000 after acquiring an additional 1,327,873 shares during the last quarter. Blair William & Co. IL increased its position in shares of Pure Storage by 0.7% during the 2nd quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock worth $151,405,000 after purchasing an additional 15,747 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Pure Storage by 12.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock worth $143,470,000 after purchasing an additional 249,761 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Pure Storage by 22.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,303,863 shares of the technology company’s stock worth $83,728,000 after purchasing an additional 235,356 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Up 0.2 %

NYSE:PSTG opened at $51.32 on Tuesday. The firm has a market cap of $16.82 billion, a P/E ratio of 183.29, a PEG ratio of 7.83 and a beta of 1.11. 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 stock’s 50 day simple moving average is $53.55 and its 200-day simple moving average is $56.86. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) 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 business had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Equities analysts anticipate that Pure Storage, Inc. will post 0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PSTG shares. Citigroup dropped their target price on Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. UBS Group decreased their price objective on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Needham & Company LLC decreased their price objective on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Guggenheim reiterated a “buy” rating and issued a $72.00 price objective on shares of Pure Storage in a research note on Tuesday, June 25th. Finally, Lake Street Capital decreased their price objective on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $66.95.

Insider Buying and Selling

In other Pure Storage news, CAO Mona Chu sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the sale, the chief accounting officer now directly owns 96,639 shares in the company, valued at approximately $4,862,874.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Mona Chu sold 25,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the sale, the chief accounting officer now owns 96,639 shares of the company’s stock, valued at $4,862,874.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $59.50, for a total value of $5,950,000.00. Following the sale, the insider now directly owns 900,000 shares in the company, valued at approximately $53,550,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 443,776 shares of company stock valued at $24,653,851 over the last quarter. Company insiders own 6.00% of the company’s stock.

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.