Wolff Wiese Magana LLC Sells 353 Shares of Pure Storage, Inc. (NYSE:PSTG)

Wolff Wiese Magana LLC lowered its stake in Pure Storage, Inc. (NYSE:PSTG) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,635 shares of the technology company’s stock after selling 353 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Pure Storage were worth $735,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Pure Storage by 1.6% in the first quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock worth $1,652,735,000 after purchasing an additional 495,183 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Pure Storage by 56.1% in 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 buying an additional 1,327,873 shares during the period. Blair William & Co. IL increased its stake in Pure Storage by 0.7% in the 2nd quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock worth $151,405,000 after buying an additional 15,747 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Pure Storage by 12.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock valued at $143,470,000 after acquiring an additional 249,761 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Pure Storage by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,303,863 shares of the technology company’s stock valued at $83,728,000 after acquiring an additional 235,356 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PSTG shares. Lake Street Capital cut their target price on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Needham & Company LLC cut their price objective on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Susquehanna reiterated a “positive” rating and set a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. Piper Sandler dropped their target price on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, Evercore ISI reduced their price target 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.95.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $53.41 on Thursday. The stock has a 50 day moving average price of $53.11 and a 200-day moving average price of $56.86. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. The stock has a market cap of $17.37 billion, a price-to-earnings ratio of 190.75, a price-to-earnings-growth ratio of 8.33 and a beta of 1.11. 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 (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The company had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. Equities analysts expect that Pure Storage, Inc. will post 0.43 EPS for the current year.

Insider Buying and Selling

In related news, CAO Mona Chu sold 20,647 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $51.50, for a total value of $1,063,320.50. Following the sale, the chief accounting officer now directly owns 75,992 shares of the company’s stock, valued at $3,913,588. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Pure Storage news, CAO Mona Chu sold 20,647 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $51.50, for a total value of $1,063,320.50. Following the transaction, the chief accounting officer now owns 75,992 shares of the company’s stock, valued at $3,913,588. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $51.01, for a total value of $5,101,000.00. Following the completion of the sale, the insider now owns 400,000 shares in the company, valued at approximately $20,404,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 464,423 shares of company stock valued at $24,868,171. Company insiders own 6.00% of the company’s stock.

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.