Stephens Investment Management Group LLC Reduces Stock Holdings in Pure Storage, Inc. $PSTG

Stephens Investment Management Group LLC reduced its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,031,247 shares of the technology company’s stock after selling 58,443 shares during the period. Pure Storage accounts for about 1.1% of Stephens Investment Management Group LLC’s holdings, making the stock its 26th biggest holding. Stephens Investment Management Group LLC’s holdings in Pure Storage were worth $86,429,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in shares of Pure Storage by 8.3% in the 3rd quarter. Versant Capital Management Inc now owns 1,598 shares of the technology company’s stock valued at $134,000 after buying an additional 122 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Pure Storage by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,756 shares of the technology company’s stock valued at $3,667,000 after acquiring an additional 152 shares during the last quarter. Global Retirement Partners LLC grew its position in Pure Storage by 11.8% in the third quarter. Global Retirement Partners LLC now owns 1,530 shares of the technology company’s stock worth $128,000 after acquiring an additional 162 shares during the period. Outfitters Financial LLC raised its position in Pure Storage by 1.3% in the third quarter. Outfitters Financial LLC now owns 13,860 shares of the technology company’s stock valued at $1,162,000 after purchasing an additional 175 shares during the period. Finally, Penserra Capital Management LLC raised its position in Pure Storage by 11.8% in the second quarter. Penserra Capital Management LLC now owns 1,666 shares of the technology company’s stock valued at $95,000 after purchasing an additional 176 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total value of $7,131,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value of $481,930.92. Following the transaction, the insider directly owned 215,091 shares of the company’s stock, valued at $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 207,178 shares of company stock valued at $16,771,931. Insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PSTG. Lake Street Capital increased their price target on Pure Storage from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. UBS Group upped their target price on shares of Pure Storage from $55.00 to $60.00 and gave the company a “sell” rating in a research report on Wednesday, December 3rd. Northland Securities set a $77.00 price target on shares of Pure Storage in a research report on Wednesday, December 3rd. TD Cowen boosted their price target on shares of Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Pure Storage from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, December 3rd. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $95.26.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $73.13 on Friday. The firm has a market capitalization of $24.15 billion, a PE ratio of 192.45, a price-to-earnings-growth ratio of 8.03 and a beta of 1.26. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59. The firm’s 50-day moving average is $74.94 and its two-hundred day moving average is $74.52.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The firm had revenue of $763.77 million during the quarter. Analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Pure Storage Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.