Pure Storage, Inc. $PSTG Shares Sold by Sigma Planning Corp

Sigma Planning Corp decreased its stake in Pure Storage, Inc. (NYSE:PSTG) by 12.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,235 shares of the technology company’s stock after selling 923 shares during the quarter. Sigma Planning Corp’s holdings in Pure Storage were worth $359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Nisa Investment Advisors LLC lifted its stake in Pure Storage by 35.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after buying an additional 239 shares in the last quarter. Cerity Partners LLC lifted its position in shares of 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 in the last quarter. State of Michigan Retirement System lifted its position in shares of Pure Storage by 0.7% in the first quarter. State of Michigan Retirement System now owns 74,200 shares of the technology company’s stock valued at $3,285,000 after acquiring an additional 500 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Pure Storage by 2.2% in the first quarter. New York State Common Retirement Fund now owns 162,454 shares of the technology company’s stock worth $7,192,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Emerald Advisers LLC increased its position in shares of Pure Storage by 27.6% during the first quarter. Emerald Advisers LLC now owns 12,195 shares of the technology company’s stock worth $540,000 after purchasing an additional 2,637 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 6,051 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total transaction of $528,978.42. Following the completion of the sale, the executive owned 62,759 shares in the company, valued at $5,486,391.78. This trade represents a 8.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ajay Singh sold 7,014 shares of Pure Storage stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total transaction of $602,151.90. Following the sale, the insider directly owned 229,307 shares in the company, valued at approximately $19,686,005.95. The trade was a 2.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 343,111 shares of company stock worth $27,634,439. 5.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Pure Storage in a research note on Wednesday, October 8th. Citigroup upped their target price on shares of Pure Storage from $81.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Lake Street Capital increased their target price on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Evercore ISI boosted their price target on shares of Pure Storage from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Finally, Needham & Company LLC upped 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. Fourteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.56.

Pure Storage Stock Down 3.5%

NYSE PSTG opened at $89.83 on Monday. The business’s fifty day simple moving average is $88.32 and its 200-day simple moving average is $67.00. The firm has a market cap of $29.52 billion, a PE ratio of 219.09, a P/E/G ratio of 8.99 and a beta of 1.24. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) 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 during the quarter. Research analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

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.