Stanley Laman Group Ltd. Sells 1,158 Shares of Pure Storage, Inc. (NYSE:PSTG)

Stanley Laman Group Ltd. lowered its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,192 shares of the technology company’s stock after selling 1,158 shares during the period. Stanley Laman Group Ltd.’s holdings in Pure Storage were worth $3,573,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased its position in Pure Storage by 1.4% in the 3rd quarter. FMR LLC now owns 46,793,394 shares of the technology company’s stock valued at $1,666,781,000 after acquiring an additional 663,465 shares during the period. Polar Capital Holdings Plc increased its holdings in Pure Storage by 33.8% in the third quarter. Polar Capital Holdings Plc now owns 4,068,672 shares of the technology company’s stock valued at $144,926,000 after purchasing an additional 1,028,104 shares during the period. Acadian Asset Management LLC raised its position in Pure Storage by 61.5% during the 3rd quarter. Acadian Asset Management LLC now owns 3,399,759 shares of the technology company’s stock worth $121,081,000 after purchasing an additional 1,294,285 shares during the last quarter. Blair William & Co. IL lifted its holdings in Pure Storage by 2.0% during the 3rd quarter. Blair William & Co. IL now owns 2,378,509 shares of the technology company’s stock worth $84,722,000 after buying an additional 45,925 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Pure Storage by 83.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,068,255 shares of the technology company’s stock worth $73,754,000 after buying an additional 943,850 shares during the period. Institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PSTG shares. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of Pure Storage in a research report on Thursday, April 11th. Stifel Nicolaus raised their price target on shares of Pure Storage from $41.00 to $46.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Evercore ISI upped their price objective on shares of Pure Storage from $41.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Morgan Stanley lifted their target price on shares of Pure Storage from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Bank of America upped their price target on shares of Pure Storage from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.63.

Insider Transactions at Pure Storage

In other news, insider Ajay Singh sold 37,588 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the completion of the transaction, the insider now directly owns 380,834 shares in the company, valued at approximately $20,389,852.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pure Storage news, insider Ajay Singh sold 37,588 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $53.54, for a total value of $2,012,461.52. Following the sale, the insider now owns 380,834 shares of the company’s stock, valued at approximately $20,389,852.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Scott Dietzen sold 147,000 shares of Pure Storage stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $53.49, for a total value of $7,863,030.00. Following the sale, the director now owns 100,000 shares of the company’s stock, valued at approximately $5,349,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 286,581 shares of company stock valued at $15,266,704. 6.50% of the stock is currently owned by corporate insiders.

Pure Storage Stock Performance

NYSE PSTG traded up $1.60 during trading hours on Thursday, reaching $52.25. 2,809,996 shares of the company were exchanged, compared to its average volume of 4,562,600. Pure Storage, Inc. has a 1 year low of $22.14 and a 1 year high of $58.46. The stock has a market capitalization of $16.98 billion, a P/E ratio of 307.37, a P/E/G ratio of 6.73 and a beta of 1.15. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $50.66 and its 200-day simple moving average is $41.63.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.10. The company had revenue of $789.81 million during the quarter, compared to analysts’ expectations of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 earnings per share. On average, equities research analysts expect that Pure Storage, Inc. will post 0.44 earnings per share 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.