Illinois Municipal Retirement Fund Trims Stock Position in Pure Storage, Inc. $PSTG

Illinois Municipal Retirement Fund decreased its holdings in Pure Storage, Inc. (NYSE:PSTG) by 7.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,407 shares of the technology company’s stock after selling 6,680 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Pure Storage were worth $4,457,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Nisa Investment Advisors LLC raised its stake in Pure Storage by 35.6% during the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock worth $40,000 after purchasing an additional 239 shares during the period. Cerity Partners LLC boosted its holdings in Pure Storage by 53.1% in the first quarter. Cerity Partners LLC now owns 19,741 shares of the technology company’s stock valued at $874,000 after acquiring an additional 6,850 shares during the last quarter. New York State Common Retirement Fund grew its position in Pure Storage by 2.2% during the first quarter. New York State Common Retirement Fund now owns 162,454 shares of the technology company’s stock valued at $7,192,000 after acquiring an additional 3,500 shares during the period. CWM LLC increased its stake in Pure Storage by 26.7% during the first quarter. CWM LLC now owns 8,309 shares of the technology company’s stock worth $368,000 after acquiring an additional 1,751 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Pure Storage by 25.3% in the 1st quarter. Signaturefd LLC now owns 4,017 shares of the technology company’s stock worth $178,000 after purchasing an additional 812 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on PSTG. Lake Street Capital raised their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pure Storage in a report on Wednesday, October 8th. Barclays boosted their price objective on Pure Storage from $57.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, August 29th. Needham & Company LLC increased their target price on Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Finally, Citigroup raised their price target on shares of Pure Storage from $81.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.65.

Insider Buying and Selling at Pure Storage

In related news, CAO Mona Chu sold 9,091 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.91, for a total value of $771,916.81. Following the sale, the chief accounting officer owned 107,353 shares of the company’s stock, valued at approximately $9,115,343.23. This trade represents a 7.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ajay Singh sold 7,014 shares of the company’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total value of $602,151.90. Following the transaction, the insider owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. The trade was a 2.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 443,111 shares of company stock worth $36,793,439. Corporate insiders own 5.60% of the company’s stock.

Pure Storage Price Performance

Pure Storage stock opened at $88.58 on Thursday. The company has a market cap of $29.11 billion, a PE ratio of 216.06, a P/E/G ratio of 8.99 and a beta of 1.24. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $100.59. The company has a fifty day moving average price of $89.04 and a two-hundred day moving average price of $67.77.

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

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.