Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. decreased its stake in Pure Storage, Inc. (NYSE:PSTG) by 14.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,688 shares of the technology company’s stock after selling 3,516 shares during the period. Vontobel Holding Ltd.’s holdings in Pure Storage were worth $1,039,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Creative Planning boosted its stake in Pure Storage by 39.7% during the 3rd quarter. Creative Planning now owns 27,399 shares of the technology company’s stock worth $1,377,000 after purchasing an additional 7,780 shares during the period. ORG Wealth Partners LLC acquired a new stake in Pure Storage during the 3rd quarter worth $31,000. McGlone Suttner Wealth Management Inc. purchased a new position in Pure Storage during the 3rd quarter worth $226,000. Exchange Traded Concepts LLC raised its position in Pure Storage by 34.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 58,102 shares of the technology company’s stock worth $2,919,000 after buying an additional 15,013 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in Pure Storage by 93.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,300 shares of the technology company’s stock worth $116,000 after buying an additional 1,111 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PSTG has been the subject of a number of analyst reports. TD Cowen cut their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Northland Securities reiterated a “market perform” rating and issued a $59.00 price target (down previously from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Evercore ISI cut their price target on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Piper Sandler cut their price target on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Finally, Guggenheim increased their price target on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.05.

Insider Buying and Selling

In related news, 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 sale, the chief accounting officer now directly owns 75,992 shares of the company’s stock, valued at approximately $3,913,588. 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. In related news, 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 transaction, the chief accounting officer now owns 75,992 shares in the company, valued at approximately $3,913,588. This trade 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 the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total transaction of $450,709.65. Following the completion of the transaction, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 454,542 shares of company stock valued at $24,282,030. Insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

Pure Storage stock opened at $57.07 on Monday. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The stock has a market capitalization of $18.56 billion, a P/E ratio of 203.82, a P/E/G ratio of 8.45 and a beta of 1.11. The firm’s 50-day moving average is $53.14 and its two-hundred day moving average is $56.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96.

Pure Storage (NYSE:PSTG) last released 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 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 analysts’ expectations of $756.59 million. Equities analysts predict that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

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.