Pure Storage, Inc. (NYSE:PSTG) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of Pure Storage, Inc. (NYSE:PSTGFree Report) by 45.1% during the 4th quarter, Holdings Channel reports. The fund owned 17,543 shares of the technology company’s stock after selling 14,393 shares during the quarter. SG Americas Securities LLC’s holdings in Pure Storage were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in Pure Storage during the third quarter worth about $28,000. ST Germain D J Co. Inc. acquired a new stake in Pure Storage during the second quarter worth about $32,000. Parkside Financial Bank & Trust acquired a new stake in Pure Storage during the first quarter worth about $33,000. Penserra Capital Management LLC acquired a new stake in Pure Storage during the first quarter worth about $47,000. Finally, First Horizon Advisors Inc. grew its holdings in Pure Storage by 53.3% during the third quarter. First Horizon Advisors Inc. now owns 1,380 shares of the technology company’s stock worth $49,000 after acquiring an additional 480 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSTG has been the topic of several analyst reports. Stifel Nicolaus raised their target price on Pure Storage from $41.00 to $46.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Guggenheim began coverage on Pure Storage in a research report on Thursday, December 7th. They set a “buy” rating and a $48.00 price target on the stock. Citigroup began coverage on Pure Storage in a research report on Friday, March 15th. They set a “buy” rating and a $65.00 price target on the stock. Morgan Stanley increased their price target on Pure Storage from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Barclays increased their price target on Pure Storage from $42.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.72.

Check Out Our Latest Research Report on PSTG

Pure Storage Stock Performance

NYSE PSTG opened at $53.53 on Thursday. The company has a market cap of $16.91 billion, a PE ratio of 314.90, a price-to-earnings-growth ratio of 6.76 and a beta of 1.15. The stock’s 50 day simple moving average is $47.16 and its 200-day simple moving average is $39.62. Pure Storage, Inc. has a 1-year low of $22.14 and a 1-year high of $58.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 1.80.

Pure Storage (NYSE:PSTGGet Free Report) last released its earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.10. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The business had revenue of $789.81 million for the quarter, compared to the consensus estimate of $784.31 million. During the same quarter last year, the business posted $0.27 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

About Pure Storage

(Free Report)

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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