abrdn plc Has $4.77 Million Position in Pure Storage, Inc. (NYSE:PSTG)

abrdn plc increased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 1,604.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,858 shares of the technology company’s stock after purchasing an additional 89,293 shares during the quarter. abrdn plc’s holdings in Pure Storage were worth $4,766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PSTG. State of Alaska Department of Revenue increased its holdings in shares of Pure Storage by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 35,670 shares of the technology company’s stock worth $1,792,000 after buying an additional 2,435 shares in the last quarter. Forsta AP Fonden grew its position in Pure Storage by 16.2% during the 3rd quarter. Forsta AP Fonden now owns 67,500 shares of the technology company’s stock worth $3,391,000 after acquiring an additional 9,400 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Pure Storage by 363.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,553 shares of the technology company’s stock worth $275,000 after purchasing an additional 4,356 shares in the last quarter. Legacy Wealth Asset Management LLC raised its position in Pure Storage by 5.0% in the third quarter. Legacy Wealth Asset Management LLC now owns 6,426 shares of the technology company’s stock valued at $323,000 after purchasing an additional 308 shares during the last quarter. Finally, Impact Partnership Wealth LLC acquired a new stake in shares of Pure Storage during the third quarter valued at about $365,000. Institutional investors own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the transaction, the chief accounting officer now owns 96,639 shares in the company, valued at approximately $4,862,874.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total value of $6,176,000.00. Following the completion of the sale, the insider now owns 700,000 shares in the company, valued at $43,232,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the transaction, the chief accounting officer now directly owns 96,639 shares in the company, valued at $4,862,874.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 454,542 shares of company stock valued at $24,775,030. 6.00% of the stock is owned by company insiders.

Pure Storage Price Performance

PSTG stock opened at $50.95 on Monday. 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’s 50-day moving average is $51.61 and its 200-day moving average is $56.97. The stock has a market capitalization of $16.70 billion, a PE ratio of 127.38, a price-to-earnings-growth ratio of 7.85 and a beta of 1.10. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 research analysts expect that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PSTG. Northland Securities reiterated a “market perform” rating and issued a $59.00 price objective (down previously from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Needham & Company LLC dropped their price target on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus lowered their target price on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. Evercore ISI decreased their price target on Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Finally, Raymond James cut their price objective on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.05.

About Pure Storage

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.