Pure Storage Inc. (PSTG) is Glynn Capital Management LLC’s 5th Largest Position
Glynn Capital Management LLC reduced its stake in shares of Pure Storage Inc. (NYSE:PSTG) by 8.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,071,495 shares of the company’s stock after selling 190,860 shares during the period. Pure Storage makes up about 7.4% of Glynn Capital Management LLC’s portfolio, making the stock its 5th largest position. Glynn Capital Management LLC owned 1.07% of Pure Storage worth $22,579,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Menta Capital LLC acquired a new position in Pure Storage during the first quarter valued at approximately $149,000. Gradient Investments LLC purchased a new stake in shares of Pure Storage during the second quarter valued at approximately $330,000. Calixto Global Investors LP purchased a new stake in shares of Pure Storage during the first quarter valued at approximately $378,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Pure Storage during the first quarter valued at approximately $431,000. Finally, Westend Capital Management LLC purchased a new stake in shares of Pure Storage during the first quarter valued at approximately $488,000. Hedge funds and other institutional investors own 49.38% of the company’s stock.
Shares of Pure Storage Inc. (NYSE:PSTG) traded down 2.52% during mid-day trading on Monday, hitting $12.38. The company had a trading volume of 1,625,341 shares. Pure Storage Inc. has a 12-month low of $9.62 and a 12-month high of $19.86. The firm’s market cap is $2.43 billion. The firm’s 50 day moving average is $13.26 and its 200-day moving average is $12.86.
Pure Storage (NYSE:PSTG) last posted its earnings results on Thursday, August 25th. The company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. Pure Storage had a negative return on equity of 38.48% and a negative net margin of 38.27%. The company had revenue of $163.21 million for the quarter, compared to analyst estimates of $155.14 million. During the same period last year, the company earned ($0.33) earnings per share. The business’s revenue was up 92.8% compared to the same quarter last year. On average, equities analysts expect that Pure Storage Inc. will post ($0.63) EPS for the current year.
Several equities research analysts have commented on the company. JMP Securities restated a “buy” rating on shares of Pure Storage in a research note on Sunday, July 17th. Vetr upgraded Pure Storage from a “buy” rating to a “strong-buy” rating and set a $14.72 price target for the company in a research note on Monday. Wells Fargo & Co. assumed coverage on Pure Storage in a research note on Tuesday, August 2nd. They set a “market perform” rating for the company. Summit Research restated a “hold” rating and set a $10.00 price target on shares of Pure Storage in a research note on Thursday, June 23rd. Finally, Robert W. Baird assumed coverage on Pure Storage in a research note on Tuesday, June 28th. They set a “neutral” rating and a $12.00 price target for the company. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $17.24.
In other Pure Storage news, CFO Timothy Riitters sold 3,231 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $13.50, for a total transaction of $43,618.50. Following the transaction, the chief financial officer now directly owns 31,769 shares in the company, valued at $428,881.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 46.58% of the company’s stock.
Pure Storage Company Profile
Pure Storage, Inc provides an enterprise data storage platform. The Company’s storage platform consists of approximately three integrated components, including the Purity Operating Environment, which is its flash-optimized software; FlashArray, which is its modular and scalable all-flash array hardware, and Pure1, which is its cloud-based management and support.
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