Sycomore Asset Management Increases Holdings in Pure Storage, Inc. (NYSE:PSTG)

Sycomore Asset Management grew its stake in Pure Storage, Inc. (NYSE:PSTG) by 230.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,034 shares of the technology company’s stock after purchasing an additional 83,013 shares during the quarter. Sycomore Asset Management’s holdings in Pure Storage were worth $6,005,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. KBC Group NV grew its position in Pure Storage by 9.9% in the 3rd quarter. KBC Group NV now owns 39,277 shares of the technology company’s stock worth $1,974,000 after purchasing an additional 3,552 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Pure Storage by 6.9% during the third quarter. Victory Capital Management Inc. now owns 230,393 shares of the technology company’s stock valued at $11,575,000 after purchasing an additional 14,901 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after acquiring an additional 219 shares in the last quarter. Chartwell Investment Partners LLC purchased a new stake in Pure Storage in the 3rd quarter worth approximately $722,000. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Pure Storage by 9.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 21,555 shares of the technology company’s stock worth $1,082,000 after purchasing an additional 1,783 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSTG. UBS Group lowered their target price on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Needham & Company LLC reduced their target price on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $80.00 price target on shares of Pure Storage in a research note on Monday, August 26th. Evercore ISI lowered their target price on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Finally, Citigroup reduced their price target on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.15.

Pure Storage Price Performance

PSTG stock remained flat at $49.87 during trading on Thursday. The company had a trading volume of 512,113 shares, compared to its average volume of 3,676,817. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The stock’s 50-day moving average is $51.31 and its 200-day moving average is $56.95. The firm has a market capitalization of $16.34 billion, a P/E ratio of 124.68, a PEG ratio of 7.86 and a beta of 1.10.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. The firm had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. Research analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the sale, the insider now owns 500,000 shares in the company, valued at $24,970,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the sale, the executive now owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the sale, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 454,542 shares of company stock valued at $24,775,030. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage 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.