GraniteShares Advisors LLC Sells 489 Shares of Pure Storage, Inc. (NYSE:PSTG)

GraniteShares Advisors LLC lessened its position in Pure Storage, Inc. (NYSE:PSTG) by 5.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,795 shares of the technology company’s stock after selling 489 shares during the period. GraniteShares Advisors LLC’s holdings in Pure Storage were worth $345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Union Bancaire Privee UBP SA lifted its stake in shares of Pure Storage by 35.6% in the first quarter. Union Bancaire Privee UBP SA now owns 26,678 shares of the technology company’s stock worth $1,292,000 after buying an additional 7,000 shares in the last quarter. Fifth Third Bancorp lifted its position in Pure Storage by 11.3% during the first quarter. Fifth Third Bancorp now owns 5,339 shares of the technology company’s stock valued at $236,000 after purchasing an additional 542 shares during the period. Handelsbanken Fonder AB lifted its position in Pure Storage by 9.1% during the first quarter. Handelsbanken Fonder AB now owns 91,153 shares of the technology company’s stock valued at $4,035,000 after purchasing an additional 7,600 shares during the period. SG Americas Securities LLC lifted its position in Pure Storage by 3,506.5% during the first quarter. SG Americas Securities LLC now owns 75,268 shares of the technology company’s stock valued at $3,332,000 after purchasing an additional 73,181 shares during the period. Finally, Abacus FCF Advisors LLC lifted its position in Pure Storage by 170.7% during the first quarter. Abacus FCF Advisors LLC now owns 175,422 shares of the technology company’s stock valued at $7,766,000 after purchasing an additional 110,614 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, insider John Colgrove sold 100,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the completion of the transaction, the insider now owns 801,959 shares in the company, valued at $41,709,887.59. This trade represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the transaction, the executive now directly owns 90,223 shares of the company’s stock, valued at approximately $3,691,022.93. This represents a 7.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,083 shares of company stock worth $6,150,676 over the last 90 days. 5.60% of the stock is owned by insiders.

Pure Storage Stock Performance

PSTG opened at $54.41 on Friday. The stock has a market capitalization of $17.74 billion, a price-to-earnings ratio of 143.19, a PEG ratio of 5.12 and a beta of 1.05. The company has a fifty day moving average of $49.31 and a 200 day moving average of $56.18. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67.

Pure Storage (NYSE:PSTG) last posted its earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $778.49 million during the quarter, compared to analysts’ expectations of $770.03 million. Pure Storage had a net margin of 4.22% and a return on equity of 16.06%. Pure Storage’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. On average, equities research analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Pure Storage from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, May 29th. Wall Street Zen upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Citigroup increased their price objective on shares of Pure Storage from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 16th. UBS Group upped their target price on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 target price on shares of Pure Storage in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.95.

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.