Huntington National Bank Has $118,000 Stake in Pure Storage, Inc. $PSTG

Huntington National Bank grew its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 146.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,057 shares of the technology company’s stock after purchasing an additional 1,222 shares during the period. Huntington National Bank’s holdings in Pure Storage were worth $118,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PSTG. Mechanics Financial Corp bought a new stake in shares of Pure Storage in the second quarter valued at approximately $25,000. REAP Financial Group LLC raised its holdings in Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after acquiring an additional 201 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in shares of Pure Storage during the 1st quarter valued at $38,000. Nisa Investment Advisors LLC lifted its position in shares of Pure Storage by 35.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after acquiring an additional 239 shares during the period. Finally, Ramirez Asset Management Inc. grew its holdings in shares of Pure Storage by 40.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 200 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Pure Storage Price Performance

PSTG stock opened at $89.83 on Friday. The stock has a market cap of $29.52 billion, a price-to-earnings ratio of 219.09, a P/E/G ratio of 8.99 and a beta of 1.24. The company has a 50 day simple moving average of $88.32 and a 200 day simple moving average of $66.83. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59.

Pure Storage (NYSE:PSTG) last posted its earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The firm had revenue of $763.77 million for the quarter. On average, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $92.49, for a total value of $9,249,000.00. Following the completion of the transaction, the insider directly owned 200,000 shares in the company, valued at approximately $18,498,000. This trade represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Dan Fitzsimons sold 6,051 shares of Pure Storage stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total value of $528,978.42. Following the sale, the executive directly owned 62,759 shares in the company, valued at $5,486,391.78. The trade was a 8.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 343,111 shares of company stock worth $27,634,439. Company insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PSTG shares. Wall Street Zen raised Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Citigroup boosted their target price on shares of Pure Storage from $81.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Guggenheim upped their price target on shares of Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Needham & Company LLC lifted their price objective on shares of Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Finally, Evercore ISI upped their target price on Pure Storage from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Fourteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.56.

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.