Skandinaviska Enskilda Banken AB publ Sells 117,479 Shares of Pure Storage, Inc. $PSTG

Skandinaviska Enskilda Banken AB publ decreased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 33.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 231,101 shares of the technology company’s stock after selling 117,479 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Pure Storage were worth $19,369,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in shares of Pure Storage by 8.3% in the third quarter. Versant Capital Management Inc now owns 1,598 shares of the technology company’s stock valued at $134,000 after purchasing an additional 122 shares during the period. Smartleaf Asset Management LLC grew its stake in Pure Storage by 40.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 468 shares of the technology company’s stock valued at $39,000 after buying an additional 134 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Pure Storage by 0.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,756 shares of the technology company’s stock worth $3,667,000 after acquiring an additional 152 shares during the period. State of Wyoming lifted its position in Pure Storage by 10.3% during the 3rd quarter. State of Wyoming now owns 1,673 shares of the technology company’s stock worth $140,000 after acquiring an additional 156 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Pure Storage by 11.8% during the third quarter. Global Retirement Partners LLC now owns 1,530 shares of the technology company’s stock valued at $128,000 after acquiring an additional 162 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PSTG shares. Barclays boosted their price objective on Pure Storage from $70.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. cut their price target on Pure Storage from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, December 3rd. UBS Group raised their price objective on shares of Pure Storage from $55.00 to $60.00 and gave the stock a “sell” rating in a research note on Wednesday, December 3rd. Lake Street Capital upped their target price on shares of Pure Storage from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Finally, Evercore reissued an “outperform” rating on shares of Pure Storage in a report on Wednesday, December 3rd. Twelve equities 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.47.

Insider Buying and Selling

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the completion of the sale, the insider directly owned 215,091 shares in the company, valued at approximately $14,441,209.74. This represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is currently owned by insiders.

Pure Storage Price Performance

Shares of PSTG stock opened at $72.67 on Wednesday. The stock has a market cap of $23.99 billion, a P/E ratio of 191.24, a price-to-earnings-growth ratio of 5.76 and a beta of 1.27. The stock has a fifty day moving average price of $70.40 and a 200 day moving average price of $77.05. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $100.59.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, December 2nd. The technology company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The company had revenue of $964.45 million during the quarter, compared to analysts’ expectations of $955.60 million. During the same quarter in the prior year, the company posted $0.50 EPS. The business’s revenue was up 16.1% on a year-over-year basis. Equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current 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.