Envestnet Asset Management Inc. Sells 17,651 Shares of Pure Storage, Inc. $PSTG

Envestnet Asset Management Inc. decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 8.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 185,747 shares of the technology company’s stock after selling 17,651 shares during the period. Envestnet Asset Management Inc.’s holdings in Pure Storage were worth $15,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its position in Pure Storage by 8.3% during the third quarter. Versant Capital Management Inc now owns 1,598 shares of the technology company’s stock worth $134,000 after acquiring an additional 122 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Pure Storage by 0.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,756 shares of the technology company’s stock worth $3,667,000 after purchasing an additional 152 shares during the last quarter. State of Wyoming increased its stake in shares of Pure Storage by 10.3% during the 3rd quarter. State of Wyoming now owns 1,673 shares of the technology company’s stock worth $140,000 after purchasing an additional 156 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Pure Storage by 11.8% in the 3rd quarter. Global Retirement Partners LLC now owns 1,530 shares of the technology company’s stock valued at $128,000 after purchasing an additional 162 shares during the period. Finally, Outfitters Financial LLC lifted its stake in Pure Storage by 1.3% in the 3rd quarter. Outfitters Financial LLC now owns 13,860 shares of the technology company’s stock valued at $1,162,000 after purchasing an additional 175 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Performance

Shares of PSTG opened at $73.93 on Monday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59. The stock has a market capitalization of $24.41 billion, a price-to-earnings ratio of 194.56, a PEG ratio of 5.76 and a beta of 1.27. The stock has a fifty day moving average of $70.30 and a 200-day moving average of $76.82.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Tuesday, December 2nd. The technology company reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58. The firm had revenue of $964.45 million during the quarter, compared to the consensus estimate of $955.60 million. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 earnings per share. As a group, equities analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $481,930.92. Following the completion of the sale, the insider directly owned 215,091 shares of the company’s stock, valued at $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PSTG shares. JPMorgan Chase & Co. cut their price target on Pure Storage from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, December 3rd. TD Cowen restated a “buy” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Northland Securities set a $77.00 price target on shares of Pure Storage in a research note on Wednesday, December 3rd. Barclays increased their price target on shares of Pure Storage from $70.00 to $77.00 and gave the company an “equal weight” rating in a report on Wednesday, December 3rd. Finally, UBS Group boosted their price objective on Pure Storage from $55.00 to $60.00 and gave the stock a “sell” rating in a report on Wednesday, December 3rd. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Pure Storage has an average rating of “Moderate Buy” and an average price target 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.