Pure Storage, Inc. (NYSE:PSTG) Stake Reduced by Diversified Trust Co

Diversified Trust Co decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 6.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,349 shares of the technology company’s stock after selling 5,818 shares during the quarter. Diversified Trust Co’s holdings in Pure Storage were worth $4,385,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSTG. Naples Money Management LLC purchased a new position in Pure Storage in the fourth quarter valued at about $25,000. Banque Cantonale Vaudoise purchased a new position in Pure Storage in the first quarter valued at about $25,000. Principal Securities Inc. purchased a new position in Pure Storage in the fourth quarter valued at about $31,000. Allspring Global Investments Holdings LLC purchased a new position in Pure Storage in the fourth quarter valued at about $45,000. Finally, Rise Advisors LLC bought a new stake in shares of Pure Storage during the 1st quarter worth about $48,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other news, Director Mallun Yen sold 4,818 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $64.78, for a total value of $312,110.04. Following the completion of the transaction, the director now directly owns 35,498 shares of the company’s stock, valued at approximately $2,299,560.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CRO Dan Fitzsimons sold 29,283 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total value of $1,526,815.62. Following the completion of the transaction, the executive now directly owns 138,105 shares of the company’s stock, valued at approximately $7,200,794.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mallun Yen sold 4,818 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $64.78, for a total value of $312,110.04. Following the completion of the transaction, the director now directly owns 35,498 shares of the company’s stock, valued at $2,299,560.44. The disclosure for this sale can be found here. Insiders sold a total of 291,399 shares of company stock valued at $15,578,814 in the last quarter. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

Pure Storage stock traded up $1.00 during trading hours on Monday, hitting $65.21. The stock had a trading volume of 633,414 shares, compared to its average volume of 4,276,726. The company has a 50-day moving average of $59.70 and a two-hundred day moving average of $50.00. The company has a quick ratio of 1.96, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a market cap of $21.21 billion, a PE ratio of 232.39, a price-to-earnings-growth ratio of 6.47 and a beta of 1.11. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Wednesday, May 29th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $693.48 million during the quarter, compared to analysts’ expectations of $681.37 million. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. On average, equities research analysts anticipate that Pure Storage, Inc. will post 0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PSTG shares. Needham & Company LLC reiterated a “buy” rating and set a $80.00 price target on shares of Pure Storage in a research note on Friday, June 21st. Lake Street Capital upped their price target on Pure Storage from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company upped their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Susquehanna upped their price target on Pure Storage from $75.00 to $80.00 and gave the stock a “positive” rating in a research note on Friday, June 21st. Finally, Wedbush reiterated an “outperform” rating and set a $70.00 price target (up previously from $50.00) on shares of Pure Storage in a research note on Tuesday, May 28th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.95.

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.