Pure Storage, Inc. (NYSE:PSTG) Shares Sold by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lessened its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 10.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,898 shares of the technology company’s stock after selling 704 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Pure Storage were worth $296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Fidelis Capital Partners LLC purchased a new position in shares of Pure Storage during the 1st quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV increased 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 buying an additional 161 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after acquiring an additional 306 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage in the third quarter valued at $31,000. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of Pure Storage during the second quarter valued at $33,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Trading Down 2.4 %

Shares of PSTG opened at $49.72 on Tuesday. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The stock’s 50-day moving average is $51.40 and its two-hundred day moving average is $56.95. 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 stock has a market cap of $16.29 billion, a PE ratio of 124.30, a P/E/G ratio of 7.85 and a beta of 1.10.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, topping 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 firm had revenue of $763.77 million during the quarter, compared to analysts’ expectations of $756.59 million. Equities analysts forecast that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

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 dated Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at $4,862,874.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Pure Storage news, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction that occurred on 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 $4,862,874.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares of the company’s stock, valued at approximately $24,970,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 454,542 shares of company stock valued at $24,775,030. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Northland Securities reaffirmed a “market perform” rating and issued a $59.00 target price (down from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. Needham & Company LLC dropped their target price 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. Evercore ISI decreased their price target on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Guggenheim upped their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Piper Sandler cut their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.05.

Pure Storage 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.