Vinva Investment Management Ltd Has $737,000 Holdings in Pure Storage, Inc. (NYSE:PSTG)

Vinva Investment Management Ltd lowered its position in Pure Storage, Inc. (NYSE:PSTG) by 11.8% during the third quarter, Holdings Channel reports. The firm owned 14,904 shares of the technology company’s stock after selling 1,988 shares during the period. Vinva Investment Management Ltd’s holdings in Pure Storage were worth $737,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PSTG. Massmutual Trust Co. FSB ADV lifted its holdings in Pure Storage by 61.2% in the second 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 during the period. Larson Financial Group LLC raised its position in shares of Pure Storage by 242.9% in 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 in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Pure Storage in the 3rd quarter valued at about $31,000. FSC Wealth Advisors LLC bought a new stake in shares of Pure Storage during the 2nd quarter valued at about $33,000. Finally, City State Bank grew its stake in Pure Storage by 175.0% during 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 owned by institutional investors.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 300,000 shares of the company’s stock, valued at $17,196,000. This trade represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the transaction, the chief accounting officer now directly owns 96,639 shares in the company, valued at $4,862,874.48. This represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 354,542 shares of company stock worth $18,599,030 in the last quarter. 6.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent analyst reports. TD Cowen dropped their price target on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Evercore ISI decreased their price target on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. William Blair reiterated an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Finally, Lake Street Capital reduced their target price on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.95.

Pure Storage Trading Up 0.2 %

NYSE:PSTG opened at $52.99 on Friday. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The firm has a 50-day moving average price of $52.06 and a two-hundred day moving average price of $56.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The firm has a market cap of $17.36 billion, a price-to-earnings ratio of 132.48, a price-to-earnings-growth ratio of 7.18 and a beta of 1.10.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $756.59 million. On average, equities analysts expect that Pure Storage, Inc. will post 0.42 earnings per share 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.