Hantz Financial Services Inc. Reduces Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Hantz Financial Services Inc. decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,546 shares of the technology company’s stock after selling 7,471 shares during the quarter. Hantz Financial Services Inc.’s holdings in Pure Storage were worth $9,523,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after acquiring an additional 368,643 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Pure Storage by 22.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after purchasing an additional 747,034 shares in the last quarter. Bank of New York Mellon Corp raised its position 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 purchasing an additional 1,327,873 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Pure Storage by 3.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,861,621 shares of the technology company’s stock valued at $143,768,000 after buying an additional 93,106 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in Pure Storage by 0.7% during the 2nd quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock valued at $151,405,000 after buying an additional 15,747 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Performance

Shares of PSTG stock opened at $52.99 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The company has a market cap of $17.36 billion, a PE ratio of 132.48, a P/E/G ratio of 7.18 and a beta of 1.10. The company’s fifty day simple moving average is $52.06 and its 200-day simple moving average is $56.82. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.10 by $0.10. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. The company had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. As a group, equities research analysts anticipate that Pure Storage, Inc. will post 0.42 EPS for the current year.

Insider Activity

In other news, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,639 shares in the company, valued at $4,862,874.48. This trade represents a 20.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the transaction, the insider now owns 300,000 shares in the company, valued at approximately $17,196,000. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 354,542 shares of company stock worth $18,599,030. 6.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PSTG. Guggenheim upped their price objective on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Evercore ISI reduced their target price on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Needham & Company LLC decreased their price target on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. TD Cowen cut their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Oppenheimer started coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.95.

About Pure Storage

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.