Peregrine Capital Management LLC Has $11.35 Million Stock Holdings in Pure Storage, Inc. $PSTG

Peregrine Capital Management LLC cut its position in Pure Storage, Inc. (NYSE:PSTG) by 29.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,377 shares of the technology company’s stock after selling 56,497 shares during the period. Peregrine Capital Management LLC’s holdings in Pure Storage were worth $11,346,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Beaumont Financial Advisors LLC acquired a new position in Pure Storage in the third quarter valued at approximately $284,000. Venturi Wealth Management LLC bought a new stake in Pure Storage in the third quarter valued at approximately $238,000. HB Wealth Management LLC raised its holdings in Pure Storage by 15.1% in the third quarter. HB Wealth Management LLC now owns 10,447 shares of the technology company’s stock worth $876,000 after purchasing an additional 1,367 shares during the period. Outfitters Financial LLC boosted its position in shares of Pure Storage by 1.3% during the third quarter. Outfitters Financial LLC now owns 13,860 shares of the technology company’s stock worth $1,162,000 after purchasing an additional 175 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Pure Storage by 3.1% in the 3rd quarter. Park Avenue Securities LLC now owns 7,607 shares of the technology company’s stock valued at $638,000 after buying an additional 227 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were 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 SEC, which is available through the SEC website. Also, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the sale, the insider directly owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 307,178 shares of company stock valued at $26,020,931. 5.60% of the stock is currently owned by insiders.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $65.75 on Friday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59. The business’s 50-day moving average is $77.77 and its 200-day moving average is $73.84. The company has a market capitalization of $21.71 billion, a price-to-earnings ratio of 173.03, a P/E/G ratio of 7.61 and a beta of 1.26.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Pure Storage from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. JPMorgan Chase & Co. decreased their price objective on shares of Pure Storage from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Pure Storage in a research report on Wednesday, December 3rd. Guggenheim boosted their target price on Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Pure Storage in a report on Wednesday, December 3rd. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and an average target price of $95.26.

About Pure Storage

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.