Fox Run Management L.L.C. Has $872,000 Holdings in Pure Storage, Inc. $PSTG

Fox Run Management L.L.C. lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 57.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 15,147 shares of the technology company’s stock after selling 20,106 shares during the period. Fox Run Management L.L.C.’s holdings in Pure Storage were worth $872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSTG. Mechanics Financial Corp acquired a new stake in shares of Pure Storage during the second quarter worth about $25,000. SouthState Corp lifted its position in shares of Pure Storage by 474.8% in the second quarter. SouthState Corp now owns 592 shares of the technology company’s stock valued at $34,000 after buying an additional 489 shares during the last quarter. REAP Financial Group LLC grew its stake in Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after buying an additional 201 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in Pure Storage in the 1st quarter valued at $38,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Pure Storage by 35.6% in the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after acquiring an additional 239 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Roxanne Taylor sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.93, for a total transaction of $230,790.00. Following the transaction, the director owned 16,343 shares in the company, valued at $1,257,266.99. The trade was a 15.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mona Chu sold 17,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total value of $1,338,925.00. Following the completion of the sale, the chief accounting officer owned 138,899 shares of the company’s stock, valued at approximately $10,627,162.49. This trade represents a 11.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 343,111 shares of company stock worth $27,634,439. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PSTG shares. Wedbush raised their target price on shares of Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Bank of America upped their price target on shares of Pure Storage from $76.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. UBS Group set a $110.00 price objective on Pure Storage in a research note on Tuesday, October 21st. Lake Street Capital lifted their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Wells Fargo & Company upped their price target on Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Fourteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.56.

Pure Storage Price Performance

NYSE:PSTG opened at $89.83 on Monday. The company has a market capitalization of $29.52 billion, a price-to-earnings ratio of 219.09, a PEG ratio of 8.99 and a beta of 1.24. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $100.59. The business has a 50 day moving average of $88.32 and a 200 day moving average of $67.00.

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