Pure Storage, Inc. $PSTG Shares Sold by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR lowered its position in Pure Storage, Inc. (NYSE:PSTG) by 27.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,171 shares of the technology company’s stock after selling 7,944 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Pure Storage were worth $1,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Bank Pictet & Cie Europe AG increased its holdings in shares of Pure Storage by 18.5% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 49,718 shares of the technology company’s stock valued at $4,167,000 after acquiring an additional 7,749 shares during the period. True Wealth Design LLC grew its position in Pure Storage by 74.6% during the 3rd quarter. True Wealth Design LLC now owns 957 shares of the technology company’s stock worth $80,000 after purchasing an additional 409 shares during the last quarter. Trail Ridge Investment Advisors LLC grew its position in Pure Storage by 3.3% during the 3rd quarter. Trail Ridge Investment Advisors LLC now owns 12,415 shares of the technology company’s stock worth $1,041,000 after purchasing an additional 401 shares during the last quarter. Merit Financial Group LLC increased its stake in Pure Storage by 145.6% in the third quarter. Merit Financial Group LLC now owns 25,943 shares of the technology company’s stock valued at $2,174,000 after purchasing an additional 15,382 shares during the period. Finally, Abacus FCF Advisors LLC purchased a new stake in shares of Pure Storage in the third quarter valued at about $14,745,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Pure Storage news, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the sale, the insider directly owned 215,091 shares in the company, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 307,178 shares of company stock valued at $26,020,931. 5.60% of the stock is owned by corporate insiders.

Pure Storage Trading Up 3.0%

NYSE PSTG opened at $69.02 on Friday. The stock has a market capitalization of $22.79 billion, a price-to-earnings ratio of 181.62, a PEG ratio of 7.66 and a beta of 1.26. The business’s 50 day moving average is $80.02 and its two-hundred day moving average is $73.54. 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 quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. Pure Storage had a return on equity of 10.60% and a net margin of 3.74%.The business had revenue of $763.77 million during the quarter. Equities analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PSTG shares. Tigress Financial set a $105.00 price target on Pure Storage in a report on Wednesday, December 3rd. Morgan Stanley set a $83.00 price objective on Pure Storage in a research note on Wednesday, December 3rd. UBS Group lifted their target price on Pure Storage from $55.00 to $60.00 and gave the company a “sell” rating in a research note on Wednesday, December 3rd. Cowen reissued a “buy” rating on shares of Pure Storage in a report on Wednesday, December 3rd. Finally, Lake Street Capital upped their price target on Pure Storage from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Thirteen equities 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.26.

Pure Storage Profile

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.