Prime Capital Investment Advisors LLC Sells 288 Shares of Pure Storage, Inc. (NYSE:PSTG)

Prime Capital Investment Advisors LLC reduced its stake in Pure Storage, Inc. (NYSE:PSTG) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,221 shares of the technology company’s stock after selling 288 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Pure Storage were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Pure Storage by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock worth $1,652,735,000 after acquiring an additional 495,183 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 in the last quarter. Blair William & Co. IL boosted its holdings in shares of Pure Storage by 0.7% in the 2nd quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock worth $151,405,000 after acquiring an additional 15,747 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Pure Storage by 12.6% in 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 acquiring an additional 249,761 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Pure Storage by 22.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,303,863 shares of the technology company’s stock worth $83,728,000 after acquiring an additional 235,356 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PSTG. UBS Group reduced their price objective on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Evercore ISI reduced their price objective on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Northland Securities reaffirmed a “market perform” rating and set a $59.00 price objective (down previously from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and set a $80.00 price objective on shares of Pure Storage in a report on Monday, August 26th. Finally, Raymond James reduced their price objective on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.15.

Pure Storage Stock Down 3.3 %

NYSE:PSTG opened at $48.19 on Monday. The stock has a 50-day simple moving average of $51.41 and a 200 day simple moving average of $56.92. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The company has a market cap of $15.79 billion, a PE ratio of 120.48, a PEG ratio of 6.54 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data 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 net margin of 4.53% and a return on equity of 17.41%. The company had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. On average, sell-side analysts expect that Pure Storage, Inc. will post 0.42 EPS for the current fiscal year.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the completion of the transaction, the insider now directly owns 500,000 shares of the company’s stock, valued at approximately $24,970,000. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mona Chu sold 20,647 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $51.50, for a total value of $1,063,320.50. Following the completion of the transaction, the chief accounting officer now owns 75,992 shares of the company’s stock, valued at approximately $3,913,588. This represents a 21.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 454,542 shares of company stock worth $24,775,030 in the last three months. 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.