Trail Ridge Investment Advisors LLC Decreases Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Trail Ridge Investment Advisors LLC lowered its position in Pure Storage, Inc. (NYSE:PSTG) by 2.5% during the third quarter, Holdings Channel reports. The institutional investor owned 11,850 shares of the technology company’s stock after selling 310 shares during the quarter. Trail Ridge Investment Advisors LLC’s holdings in Pure Storage were worth $621,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PSTG. Fidelis Capital Partners LLC purchased a new position in Pure Storage in the first quarter worth $27,000. Massmutual Trust Co. FSB ADV grew its stake 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 worth $27,000 after buying an additional 161 shares during the last quarter. Larson Financial Group LLC increased its position in Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after buying an additional 306 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Pure Storage in the third quarter valued at about $31,000. Finally, FSC Wealth Advisors LLC purchased a new stake in Pure Storage in the second quarter valued at about $33,000. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the completion of the sale, the insider now owns 700,000 shares of the company’s stock, valued at $43,232,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total value of $6,176,000.00. Following the sale, the insider now directly owns 700,000 shares of the company’s stock, valued at $43,232,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the transaction, the executive now directly owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 554,542 shares of company stock valued at $30,014,030 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent analyst reports. Guggenheim upped their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Raymond James decreased their price target 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. Citigroup dropped their price objective on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Susquehanna restated a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Finally, UBS Group dropped their price target on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.05.

Pure Storage Stock Performance

NYSE PSTG opened at $54.08 on Tuesday. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 135.20, a PEG ratio of 8.47 and a beta of 1.11. The stock has a 50-day moving average of $52.35 and a 200 day moving average of $56.98. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, topping 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 business had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Sell-side analysts anticipate that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

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.