Pure Storage, Inc. (NYSE:PSTG) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC cut its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 171,840 shares of the technology company’s stock after selling 521 shares during the quarter. MetLife Investment Management LLC’s holdings in Pure Storage were worth $8,633,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PSTG. Massmutual Trust Co. FSB ADV lifted its holdings in shares of 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 acquiring an additional 161 shares during the period. Larson Financial Group LLC increased its position in Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after purchasing an additional 306 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Pure Storage in the 3rd quarter valued at $31,000. FSC Wealth Advisors LLC acquired a new position in shares of Pure Storage in the 2nd quarter valued at $33,000. Finally, City State Bank grew its stake in shares of Pure Storage by 175.0% during the 2nd quarter. City State Bank now owns 550 shares of the technology company’s stock valued at $35,000 after buying an additional 350 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Trading Down 3.1 %

NYSE PSTG opened at $52.89 on Friday. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of 132.23, a price-to-earnings-growth ratio of 7.18 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 12 month low of $31.00 and a 12 month high of $70.41. The company’s fifty day moving average price is $52.02 and its two-hundred day moving average price is $56.83.

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 the consensus estimate of $0.10 by $0.10. The business had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. As a group, research analysts predict that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Activity at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were 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 owns 96,639 shares in the company, valued at $4,862,874.48. The trade was a 20.55 % 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. Also, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the completion of the transaction, the executive now owns 94,446 shares in the company, valued at approximately $4,785,578.82. The trade was a 8.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 354,542 shares of company stock valued at $18,599,030 over the last three months. 6.00% of the stock is owned by insiders.

Analyst Ratings Changes

PSTG has been the topic of a number of research analyst reports. UBS Group reduced their target price on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. William Blair reiterated an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Evercore ISI cut 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. Piper Sandler decreased their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.95.

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.