Pure Storage, Inc. $PSTG Stake Trimmed by Pembroke Management LTD

Pembroke Management LTD reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 7.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 666,649 shares of the technology company’s stock after selling 53,465 shares during the period. Pure Storage comprises 5.5% of Pembroke Management LTD’s investment portfolio, making the stock its 2nd biggest position. Pembroke Management LTD owned approximately 0.20% of Pure Storage worth $55,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Versant Capital Management Inc lifted its stake in Pure Storage by 8.3% in the third quarter. Versant Capital Management Inc now owns 1,598 shares of the technology company’s stock valued at $134,000 after purchasing an additional 122 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Pure Storage by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,756 shares of the technology company’s stock valued at $3,667,000 after buying an additional 152 shares during the period. Global Retirement Partners LLC raised its stake in shares of Pure Storage by 11.8% in the third quarter. Global Retirement Partners LLC now owns 1,530 shares of the technology company’s stock valued at $128,000 after buying an additional 162 shares during the period. Outfitters Financial LLC grew its stake in shares of Pure Storage by 1.3% during the 3rd quarter. Outfitters Financial LLC now owns 13,860 shares of the technology company’s stock worth $1,162,000 after acquiring an additional 175 shares during the period. Finally, Penserra Capital Management LLC grew its stake in shares of Pure Storage by 11.8% during the 2nd quarter. Penserra Capital Management LLC now owns 1,666 shares of the technology company’s stock worth $95,000 after acquiring an additional 176 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

PSTG has been the topic of a number of research reports. Northland Securities set a $77.00 price objective on Pure Storage in a research note on Wednesday, December 3rd. Guggenheim lifted their target price on shares of Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Susquehanna set a $105.00 price target on shares of Pure Storage in a research note on Wednesday, December 3rd. Oppenheimer initiated coverage on shares of Pure Storage in a report on Monday, November 17th. They issued an “outperform” rating and a $120.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on shares of Pure Storage from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and a consensus price target of $95.26.

Pure Storage Trading Up 1.1%

PSTG stock opened at $73.13 on Friday. The firm has a 50 day moving average of $74.94 and a 200-day moving average of $74.52. The firm has a market capitalization of $24.15 billion, a P/E ratio of 192.45, a price-to-earnings-growth ratio of 8.03 and a beta of 1.26. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month 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 3.74% and a return on equity of 10.60%. The business had revenue of $763.77 million for the quarter. Sell-side analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other Pure Storage news, insider Ajay Singh sold 7,178 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value of $481,930.92. Following the transaction, the insider directly owned 215,091 shares in the company, valued at $14,441,209.74. This represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $71.31, for a total value of $7,131,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold 207,178 shares of company stock worth $16,771,931 in the last quarter. 5.60% of the stock is currently owned by company insiders.

About Pure Storage

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.