Royal Bank of Canada reduced its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 20.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,887 shares of the technology company’s stock after selling 8,426 shares during the period. Royal Bank of Canada’s holdings in Pure Storage were worth $409,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Pure Storage by 6.3% during the second quarter. BlackRock Inc. now owns 14,513,166 shares of the technology company’s stock worth $185,913,000 after purchasing an additional 863,990 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Pure Storage by 26.7% during the second quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock worth $90,427,000 after purchasing an additional 1,489,008 shares during the period. FMR LLC boosted its holdings in shares of Pure Storage by 10.9% during the second quarter. FMR LLC now owns 6,359,676 shares of the technology company’s stock worth $81,467,000 after purchasing an additional 622,600 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Pure Storage by 5.0% during the second quarter. Franklin Resources Inc. now owns 3,097,439 shares of the technology company’s stock worth $39,679,000 after purchasing an additional 146,411 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Pure Storage by 91.7% during the second quarter. Renaissance Technologies LLC now owns 2,461,000 shares of the technology company’s stock worth $31,525,000 after purchasing an additional 1,177,000 shares during the period. Institutional investors own 35.17% of the company’s stock.

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In related news, CFO Timothy Riitters sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $14.56, for a total transaction of $72,800.00. Following the completion of the sale, the chief financial officer now owns 282,200 shares of the company’s stock, valued at $4,108,832. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President David Hatfield sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $14.66, for a total transaction of $439,800.00. Following the sale, the president now directly owns 215,190 shares of the company’s stock, valued at approximately $3,154,685.40. The disclosure for this sale can be found here. Insiders have sold 242,028 shares of company stock valued at $3,773,235 in the last three months. 46.58% of the stock is owned by insiders.

Pure Storage, Inc. (NYSE:PSTG) opened at $16.73 on Thursday. Pure Storage, Inc. has a one year low of $9.12 and a one year high of $16.90.

Pure Storage (NYSE:PSTG) last announced its earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.20. Pure Storage had a negative net margin of 29.55% and a negative return on equity of 46.12%. The business had revenue of $224.50 million during the quarter, compared to the consensus estimate of $217.97 million. During the same quarter last year, the firm earned ($0.16) earnings per share. The business’s revenue for the quarter was up 37.6% on a year-over-year basis. equities research analysts forecast that Pure Storage, Inc. will post -0.97 earnings per share for the current year.

A number of analysts have recently weighed in on PSTG shares. BidaskClub upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. ValuEngine lowered shares of Pure Storage from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Robert W. Baird set a $14.00 price objective on shares of Pure Storage and gave the stock a “hold” rating in a report on Monday, August 14th. Maxim Group lowered shares of Pure Storage from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $20.00 to $15.00 in a report on Monday, August 14th. Finally, Summit Redstone upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $16.82.

Pure Storage Profile

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

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

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