Glenmede Trust Co. NA Raises Holdings in Pure Storage, Inc. (NYSE:PSTG)

Glenmede Trust Co. NA boosted its position in Pure Storage, Inc. (NYSE:PSTG) by 38.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 683,464 shares of the technology company’s stock after acquiring an additional 190,225 shares during the period. Glenmede Trust Co. NA’s holdings in Pure Storage were worth $34,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its holdings in Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after buying an additional 161 shares in the last quarter. Larson Financial Group LLC increased its holdings in Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after acquiring an additional 306 shares during the period. FSC Wealth Advisors LLC bought a new position in Pure Storage in the 2nd quarter valued at $33,000. ORG Partners LLC purchased a new position in shares of Pure Storage during the 2nd quarter valued at $35,000. Finally, City State Bank increased its holdings in shares of Pure Storage by 175.0% in the second quarter. City State Bank now owns 550 shares of the technology company’s stock worth $35,000 after purchasing an additional 350 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Piper Sandler reduced their target price on Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Guggenheim lifted their target price on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. UBS Group decreased their price target on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Raymond James dropped their price objective on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Finally, Needham & Company LLC cut their target price on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.95.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the sale, the executive now directly owns 94,446 shares in the company, valued at approximately $4,785,578.82. This trade represents a 8.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the transaction, the insider now owns 300,000 shares in the company, valued at $17,196,000. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,542 shares of company stock valued at $18,599,030 over the last ninety days. 6.00% of the stock is owned by insiders.

Pure Storage Stock Down 3.1 %

Shares of Pure Storage stock opened at $52.93 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The company’s 50 day moving average price is $51.95 and its 200-day moving average price is $56.86. The stock has a market capitalization of $17.34 billion, a price-to-earnings ratio of 132.33, a P/E/G ratio of 7.30 and a beta of 1.10.

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

Pure Storage Company 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.