Principal Financial Group Inc. reduced its stake in Pure Storage Inc (NYSE:PSTG) by 59.4% during the 4th quarter, Holdings Channel reports. The firm owned 16,366 shares of the technology company’s stock after selling 23,928 shares during the period. Principal Financial Group Inc.’s holdings in Pure Storage were worth $263,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PSTG. Vanguard Group Inc boosted its position in shares of Pure Storage by 14.4% in the 3rd quarter. Vanguard Group Inc now owns 15,371,526 shares of the technology company’s stock worth $398,892,000 after purchasing an additional 1,933,591 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Pure Storage by 14.4% in the 3rd quarter. Vanguard Group Inc. now owns 15,371,526 shares of the technology company’s stock worth $398,892,000 after purchasing an additional 1,933,591 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Pure Storage by 1,367.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,506,970 shares of the technology company’s stock worth $24,232,000 after purchasing an additional 1,404,310 shares during the last quarter. Morgan Stanley boosted its position in shares of Pure Storage by 46.3% in the 3rd quarter. Morgan Stanley now owns 3,629,229 shares of the technology company’s stock worth $94,179,000 after purchasing an additional 1,148,297 shares during the last quarter. Finally, Eaton Vance Management boosted its position in shares of Pure Storage by 191.0% in the 4th quarter. Eaton Vance Management now owns 1,516,913 shares of the technology company’s stock worth $24,392,000 after purchasing an additional 995,717 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

In other Pure Storage news, Director Scott Dietzen sold 400,000 shares of Pure Storage stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $20.46, for a total value of $8,184,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Timothy Riitters sold 5,210 shares of Pure Storage stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $20.46, for a total value of $106,596.60. The disclosure for this sale can be found here. Insiders sold a total of 431,260 shares of company stock worth $8,835,771 in the last three months. Company insiders own 15.30% of the company’s stock.

Several analysts recently commented on PSTG shares. ValuEngine raised Pure Storage from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Lake Street Capital dropped their price objective on Pure Storage to $26.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Oppenheimer set a $26.00 price objective on Pure Storage and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Maxim Group reaffirmed a “hold” rating and set a $21.00 price objective on shares of Pure Storage in a research note on Friday, March 1st. Finally, Zacks Investment Research downgraded Pure Storage from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Pure Storage currently has an average rating of “Buy” and an average target price of $26.10.

PSTG opened at $22.81 on Thursday. Pure Storage Inc has a 1 year low of $13.99 and a 1 year high of $29.14. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of -32.59 and a beta of 1.72. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.25 and a current ratio of 3.34.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Thursday, February 28th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.02). Pure Storage had a negative net margin of 13.12% and a negative return on equity of 22.64%. The firm had revenue of $422.22 million during the quarter, compared to analyst estimates of $443.27 million. On average, analysts expect that Pure Storage Inc will post -0.53 EPS for the current fiscal year.

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About Pure Storage

Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack and Artificial Intelligence Ready Infrastructure converged infrastructure solutions.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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