Hancock Whitney Corp Decreases Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Hancock Whitney Corp lowered its holdings in Pure Storage, Inc. (NYSE:PSTG) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,985 shares of the technology company’s stock after selling 548 shares during the period. Hancock Whitney Corp’s holdings in Pure Storage were worth $1,155,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its position in Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after buying an additional 161 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after buying an additional 306 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage during the third quarter worth $31,000. FSC Wealth Advisors LLC bought a new position in shares of Pure Storage in the second quarter worth $33,000. Finally, City State Bank increased its position in shares of Pure Storage by 175.0% during the second quarter. City State Bank now owns 550 shares of the technology company’s stock valued at $35,000 after buying an additional 350 shares during the period. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the sale, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. The trade was a 20.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the transaction, the insider now directly owns 300,000 shares of the company’s stock, valued at $17,196,000. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 354,542 shares of company stock valued at $18,599,030. 6.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of recent analyst reports. UBS Group lowered their price objective on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Raymond James cut their price objective on Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Piper Sandler lowered their target price on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Wedbush reissued an “outperform” rating and issued a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. Finally, TD Cowen dropped their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.95.

Pure Storage Trading Up 1.6 %

PSTG opened at $54.60 on Wednesday. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The business has a 50 day simple moving average of $51.88 and a two-hundred day simple moving average of $56.88. The firm has a market capitalization of $17.89 billion, a price-to-earnings ratio of 136.50, a PEG ratio of 7.30 and a beta of 1.10.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The company had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. Analysts predict that Pure Storage, Inc. will post 0.42 EPS for the current year.

About Pure Storage

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.