Pure Storage, Inc. $PSTG Shares Sold by Tobam

Tobam cut its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 57.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 618 shares of the technology company’s stock after selling 823 shares during the quarter. Tobam’s holdings in Pure Storage were worth $36,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its holdings in shares of Pure Storage by 35.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after buying an additional 239 shares during the period. Cerity Partners LLC boosted its stake in Pure Storage by 53.1% in the first quarter. Cerity Partners LLC now owns 19,741 shares of the technology company’s stock valued at $874,000 after acquiring an additional 6,850 shares during the period. New York State Common Retirement Fund boosted its stake in Pure Storage by 2.2% in the first quarter. New York State Common Retirement Fund now owns 162,454 shares of the technology company’s stock valued at $7,192,000 after acquiring an additional 3,500 shares during the period. CWM LLC grew its holdings in shares of Pure Storage by 26.7% during the first quarter. CWM LLC now owns 8,309 shares of the technology company’s stock valued at $368,000 after purchasing an additional 1,751 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Pure Storage by 25.3% during the first quarter. Signaturefd LLC now owns 4,017 shares of the technology company’s stock valued at $178,000 after purchasing an additional 812 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSTG. Wells Fargo & Company boosted their price objective on Pure Storage from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Northland Securities upped their price target on shares of Pure Storage from $63.00 to $71.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Morgan Stanley increased their price objective on shares of Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, August 28th. Piper Sandler set a $92.00 target price on shares of Pure Storage and gave the company an “overweight” rating in a research note on Thursday, September 25th. Finally, UBS Group set a $110.00 price target on Pure Storage in a report on Tuesday, October 21st. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $91.59, for a total transaction of $9,159,000.00. Following the completion of the sale, the insider directly owned 100,000 shares in the company, valued at approximately $9,159,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mona Chu sold 9,091 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.91, for a total value of $771,916.81. Following the sale, the chief accounting officer directly owned 107,353 shares of the company’s stock, valued at approximately $9,115,343.23. This represents a 7.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 443,111 shares of company stock worth $36,793,439 in the last ninety days. Insiders own 5.60% of the company’s stock.

Pure Storage Price Performance

NYSE PSTG opened at $88.58 on Thursday. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $100.59. The firm has a market capitalization of $29.11 billion, a PE ratio of 216.06, a P/E/G ratio of 8.99 and a beta of 1.24. The company’s 50 day simple moving average is $89.04 and its 200 day simple moving average is $67.77.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $763.77 million for the quarter. Sell-side analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal 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.