Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Curi RMB Capital LLC

Curi RMB Capital LLC lessened its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 27.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,770 shares of the technology company’s stock after selling 10,816 shares during the quarter. Curi RMB Capital LLC’s holdings in Pure Storage were worth $1,445,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PSTG. QRG Capital Management Inc. increased its stake in Pure Storage by 19.5% in the first quarter. QRG Capital Management Inc. now owns 12,957 shares of the technology company’s stock valued at $674,000 after purchasing an additional 2,112 shares during the period. ProShare Advisors LLC purchased a new position in shares of Pure Storage during the first quarter worth about $860,000. Bleakley Financial Group LLC acquired a new position in Pure Storage in the 1st quarter valued at about $260,000. State Board of Administration of Florida Retirement System raised its stake in Pure Storage by 3.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 255,485 shares of the technology company’s stock valued at $13,283,000 after acquiring an additional 8,143 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Pure Storage by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock worth $1,652,735,000 after acquiring an additional 495,183 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Down 3.3 %

Shares of NYSE PSTG opened at $48.18 on Friday. The firm has a market cap of $15.79 billion, a P/E ratio of 120.45, a price-to-earnings-growth ratio of 7.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41. The firm’s 50 day moving average price is $51.36 and its 200 day moving average price is $56.90.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data 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 business 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%. As a group, sell-side analysts anticipate that Pure Storage, Inc. will post 0.42 earnings per share for the current year.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 500,000 shares in the company, valued at approximately $24,970,000. This trade represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mona Chu sold 20,647 shares of Pure Storage stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the sale, the chief accounting officer now owns 75,992 shares in the company, valued at $3,913,588. This represents a 21.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 454,542 shares of company stock worth $24,775,030 in the last ninety days. Insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PSTG shares. Lake Street Capital dropped their target price on Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Northland Securities restated a “market perform” rating and set a $59.00 price objective (down previously from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Oppenheimer started coverage on shares of Pure Storage in a report on Wednesday. They issued an “outperform” rating and a $70.00 target price on the stock. Citigroup dropped their price target on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Needham & Company LLC reduced their price objective on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.15.

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.