Mercer Global Advisors Inc. ADV Sells 847 Shares of Pure Storage, Inc. (NYSE:PSTG)

Posted by Defense World Staff on May 25th, 2023

Mercer Global Advisors Inc. ADV lessened its holdings in Pure Storage, Inc. (NYSE:PSTG – Get Rating) by 6.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,151 shares of the technology company’s stock after selling 847 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Pure Storage were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Altshuler Shaham Ltd purchased a new stake in Pure Storage in the 3rd quarter valued at about $31,000. Parkside Financial Bank & Trust purchased a new stake in Pure Storage in the 1st quarter valued at about $33,000. Accurate Wealth Management LLC purchased a new stake in Pure Storage in the 4th quarter valued at about $39,000. AdvisorNet Financial Inc raised its position in Pure Storage by 280.5% during the 4th quarter. AdvisorNet Financial Inc now owns 1,560 shares of the technology company’s stock valued at $42,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Antonetti Capital Management LLC bought a new stake in Pure Storage during the 4th quarter valued at $45,000. Institutional investors own 84.96% of the company’s stock.

Insider Activity at Pure Storage

In other Pure Storage news, Director Roxanne Taylor sold 19,155 shares of the stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $26.08, for a total transaction of $499,562.40. Following the transaction, the director now owns 63,416 shares in the company, valued at $1,653,889.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pure Storage news, Director Roxanne Taylor sold 19,155 shares of the company’s stock in a transaction on Thursday, April 13th. The shares were sold at an average price of $26.08, for a total transaction of $499,562.40. Following the completion of the transaction, the director now directly owns 63,416 shares in the company, valued at $1,653,889.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Dan Fitzsimons sold 28,481 shares of the stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $24.49, for a total value of $697,499.69. Following the completion of the transaction, the executive now directly owns 192,530 shares of the company’s stock, valued at $4,715,059.70. The disclosure for this sale can be found here. 6.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wedbush raised shares of Pure Storage from a “neutral” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Thursday, April 6th. Morgan Stanley reduced their price target on Pure Storage from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. Barclays dropped their price objective on Pure Storage from $42.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, March 2nd. TD Cowen decreased their price target on shares of Pure Storage from $37.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Pure Storage from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, March 2nd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $37.11.

Pure Storage Trading Up 0.0 %

Shares of PSTG stock opened at $24.53 on Thursday. The stock has a 50 day moving average of $24.20 and a 200 day moving average of $26.89. The stock has a market cap of $7.56 billion, a P/E ratio of 116.81, a P/E/G ratio of 13.78 and a beta of 1.22. Pure Storage, Inc. has a twelve month low of $22.14 and a twelve month high of $32.45.

Pure Storage (NYSE:PSTG – Get Rating) last announced its quarterly earnings results on Wednesday, March 1st. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.17. The company had revenue of $810.21 million during the quarter, compared to analysts’ expectations of $811.30 million. Pure Storage had a return on equity of 16.59% and a net margin of 2.65%. On average, research analysts predict that Pure Storage, Inc. will post 0.19 earnings per share for the current fiscal year.

Pure Storage Profile

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Pure Storage, Inc engages in the business of delivering innovative and disruptive data storage, products, and services that enable customers to maximize the value of data. The firm is also involved in the provision of data storage and management with a mission to redefine the storage experience by simplifying how people consume and interact with data.