AMG National Trust Bank Sells 4,777 Shares of Pure Storage, Inc. (NYSE:PSTG)

AMG National Trust Bank reduced its holdings in Pure Storage, Inc. (NYSE:PSTG) by 18.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,503 shares of the technology company’s stock after selling 4,777 shares during the quarter. AMG National Trust Bank’s holdings in Pure Storage were worth $1,080,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in shares of Pure Storage by 56.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock worth $237,345,000 after acquiring an additional 1,327,873 shares during the last quarter. AQR Capital Management LLC raised its position in Pure Storage by 52.0% during the second quarter. AQR Capital Management LLC now owns 917,804 shares of the technology company’s stock valued at $58,932,000 after purchasing an additional 314,164 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in Pure Storage during the second quarter worth about $19,278,000. Baader Bank Aktiengesellschaft boosted its holdings in shares of Pure Storage by 103.7% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,000 shares of the technology company’s stock worth $642,000 after purchasing an additional 282,000 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Pure Storage by 399.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 322,586 shares of the technology company’s stock valued at $16,207,000 after purchasing an additional 258,044 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PSTG shares. Northland Securities reiterated a “market perform” rating and set a $59.00 price target (down from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Lake Street Capital lowered their price target on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Evercore ISI reduced their price objective on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Guggenheim boosted their target price on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, TD Cowen reduced their price target on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $67.95.

Insider Activity

In other news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total transaction of $450,709.65. Following the sale, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. This represents a 8.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the completion of the transaction, the insider now owns 500,000 shares of the company’s stock, valued at approximately $24,970,000. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 354,542 shares of company stock worth $18,599,030 over the last three months. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Trading Up 0.8 %

NYSE:PSTG opened at $49.90 on Wednesday. The firm has a market capitalization of $16.35 billion, a P/E ratio of 124.75, a PEG ratio of 6.54 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. The company’s 50-day simple moving average is $51.47 and its 200 day simple moving average is $56.95.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. The firm had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. As a group, analysts forecast that Pure Storage, Inc. will post 0.42 EPS for the current fiscal 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.