Public Employees Retirement System of Ohio reduced its holdings in Pure Storage Inc (NYSE:PSTG) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 134,556 shares of the technology company’s stock after selling 25,042 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.06% of Pure Storage worth $2,164,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PSTG. JPMorgan Chase & Co. boosted its position in Pure Storage by 38.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,666,222 shares of the technology company’s stock worth $69,188,000 after acquiring an additional 738,838 shares during the last quarter. MML Investors Services LLC acquired a new position in Pure Storage during the 3rd quarter worth approximately $212,000. Bank of New York Mellon Corp boosted its position in Pure Storage by 10.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 763,632 shares of the technology company’s stock worth $19,817,000 after acquiring an additional 72,087 shares during the last quarter. BlackRock Inc. boosted its position in Pure Storage by 8.6% during the 3rd quarter. BlackRock Inc. now owns 16,404,477 shares of the technology company’s stock worth $425,695,000 after acquiring an additional 1,296,027 shares during the last quarter. Finally, Credit Suisse AG boosted its position in Pure Storage by 38.7% during the 3rd quarter. Credit Suisse AG now owns 218,774 shares of the technology company’s stock worth $5,676,000 after acquiring an additional 61,052 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

PSTG opened at $22.99 on Wednesday. Pure Storage Inc has a 1-year low of $13.99 and a 1-year high of $29.14. The company has a current ratio of 3.34, a quick ratio of 3.25 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $5.68 billion, a P/E ratio of -32.84 and a beta of 1.72.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Thursday, February 28th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $422.22 million during the quarter, compared to the consensus estimate of $443.27 million. As a group, equities analysts expect that Pure Storage Inc will post -0.53 earnings per share for the current year.

PSTG has been the subject of several recent analyst reports. Lake Street Capital cut their price objective on Pure Storage to $26.00 and set a “buy” rating for the company in a report on Friday, March 1st. ValuEngine raised Pure Storage from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Oppenheimer set a $26.00 price objective on Pure Storage and gave the company a “buy” rating in a report on Tuesday, March 19th. Zacks Investment Research downgraded Pure Storage from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Maxim Group reissued a “hold” rating and issued a $21.00 price objective on shares of Pure Storage in a report on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $26.27.

In other Pure Storage news, Director Scott Dietzen sold 400,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $20.46, for a total transaction of $8,184,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Riitters sold 5,210 shares of the stock in a transaction on Thursday, March 14th. The stock was 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. In the last 90 days, insiders sold 431,260 shares of company stock worth $8,835,771. 15.30% of the stock is owned by company insiders.

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Pure Storage Profile

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, a converged infrastructure solution.

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

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