US Bancorp DE Sells 3,896 Shares of Pure Storage, Inc. (NYSE:PSTG)

US Bancorp DE lowered its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,602 shares of the technology company’s stock after selling 3,896 shares during the period. US Bancorp DE’s holdings in Pure Storage were worth $6,511,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new stake in shares of Pure Storage in the first quarter valued at about $27,000. Massmutual Trust Co. FSB ADV raised its stake in Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after purchasing an additional 161 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Pure Storage by 242.9% in the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after purchasing an additional 306 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Pure Storage in the third quarter valued at approximately $31,000. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Pure Storage in the second quarter valued at approximately $33,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Performance

NYSE PSTG opened at $50.95 on Monday. The company has a market capitalization of $16.70 billion, a price-to-earnings ratio of 127.38, a PEG ratio of 7.85 and a beta of 1.10. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The stock has a fifty day simple moving average of $51.61 and a 200 day simple moving average of $56.97. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The company had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. Sell-side analysts expect that Pure Storage, Inc. will post 0.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Susquehanna reiterated a “positive” rating and set a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. Guggenheim lifted their price target on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Northland Securities restated a “market perform” rating and set a $59.00 price objective (down from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Stifel Nicolaus decreased their target price on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, August 29th. Finally, Raymond James dropped their target price on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.05.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the completion of the sale, the insider now directly owns 700,000 shares in the company, valued at $43,232,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Pure Storage news, CAO Mona Chu sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was 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 approximately $4,862,874.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the sale, the insider now directly owns 700,000 shares of the company’s stock, valued at approximately $43,232,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 454,542 shares of company stock worth $24,775,030. Company insiders own 6.00% of the company’s stock.

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.