Mirae Asset Global Investments Co. Ltd. Has $275,000 Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 363.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,553 shares of the technology company’s stock after buying an additional 4,356 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Pure Storage were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its stake in Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after acquiring an additional 161 shares during the period. Harbour Investments Inc. grew its holdings in shares of Pure Storage by 3.0% during the 2nd quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock worth $444,000 after purchasing an additional 202 shares in the last quarter. Michael S. Ryan Inc. increased its position in shares of Pure Storage by 4.8% in the second quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company’s stock worth $292,000 after purchasing an additional 208 shares during the period. Bank Pictet & Cie Europe AG raised its stake in Pure Storage by 3.2% in the second quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company’s stock valued at $462,000 after purchasing an additional 223 shares in the last quarter. Finally, Hanseatic Management Services Inc. lifted its position in Pure Storage by 2.4% during the second quarter. Hanseatic Management Services Inc. now owns 12,579 shares of the technology company’s stock worth $808,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction 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 in the company, valued at $24,970,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider John Colgrove sold 100,000 shares of the firm’s 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 sale, the insider now owns 500,000 shares of the company’s stock, valued at $24,970,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mona Chu sold 20,647 shares of the business’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 directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 454,542 shares of company stock valued at $24,775,030. 6.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several recent analyst reports. Susquehanna reissued a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. Needham & Company LLC cut 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. Raymond James reduced their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. UBS Group lowered their price target on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Finally, Stifel Nicolaus reduced their price objective on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.05.

Pure Storage Stock Up 1.8 %

Shares of NYSE:PSTG opened at $50.95 on Monday. The business has a fifty day simple moving average of $51.61 and a 200 day simple moving average of $56.97. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The firm has a market cap of $16.70 billion, a P/E ratio of 127.38, a P/E/G ratio of 7.85 and a beta of 1.10. 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%. Analysts predict that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

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.