B. Metzler seel. Sohn & Co. Holding AG Invests $392,000 in Pure Storage, Inc. (NYSE:PSTG)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Pure Storage, Inc. (NYSE:PSTG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,808 shares of the technology company’s stock, valued at approximately $392,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise grew its holdings in shares of Pure Storage by 10.3% in the 3rd quarter. Banque Cantonale Vaudoise now owns 4,637 shares of the technology company’s stock worth $233,000 after purchasing an additional 433 shares during the last quarter. Prospera Financial Services Inc grew its stake in Pure Storage by 22.9% during the third quarter. Prospera Financial Services Inc now owns 4,960 shares of the technology company’s stock worth $249,000 after buying an additional 925 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Pure Storage during the third quarter worth approximately $613,000. Swiss National Bank increased its holdings in shares of Pure Storage by 0.3% during the third quarter. Swiss National Bank now owns 917,000 shares of the technology company’s stock worth $46,070,000 after buying an additional 3,100 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its stake in shares of Pure Storage by 12.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 39,323 shares of the technology company’s stock valued at $1,976,000 after acquiring an additional 4,293 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PSTG shares. Susquehanna restated a “positive” rating and set a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. TD Cowen lowered their target price on Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Northland Securities reiterated a “market perform” rating and set a $59.00 price target (down previously from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Lake Street Capital decreased their price objective on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Citigroup dropped their target price on shares of Pure Storage from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and an average price target of $67.95.

Insider Activity at Pure Storage

In other 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 transaction, the insider now owns 500,000 shares in the company, valued at approximately $24,970,000. This trade represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mona Chu sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now owns 96,639 shares of the company’s stock, valued at $4,862,874.48. This trade represents a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 354,542 shares of company stock worth $18,599,030. Company insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

NYSE:PSTG opened at $51.66 on Monday. The firm has a fifty day simple moving average of $51.70 and a 200 day simple moving average of $56.89. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41. The stock has a market capitalization of $16.93 billion, a PE ratio of 129.15, a P/E/G ratio of 7.00 and a beta of 1.10. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The business had revenue of $763.77 million during the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. On average, research analysts expect that Pure Storage, Inc. will post 0.42 EPS for the current fiscal 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.