Xponance Inc. Sells 947 Shares of Pure Storage, Inc. (NYSE:PSTG)

Xponance Inc. trimmed its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,259 shares of the technology company’s stock after selling 947 shares during the period. Xponance Inc.’s holdings in Pure Storage were worth $1,150,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in Pure Storage during the 3rd quarter valued at about $28,000. Allspring Global Investments Holdings LLC bought a new position in Pure Storage during the 4th quarter valued at about $45,000. First Horizon Advisors Inc. grew its holdings in Pure Storage by 53.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,380 shares of the technology company’s stock valued at $49,000 after purchasing an additional 480 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Pure Storage during the 4th quarter valued at about $67,000. Finally, Fifth Third Bancorp grew its holdings in Pure Storage by 48.5% during the 4th quarter. Fifth Third Bancorp now owns 2,227 shares of the technology company’s stock valued at $79,000 after purchasing an additional 727 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSTG. Raymond James downgraded shares of Pure Storage from a “strong-buy” rating to an “outperform” rating and upped their price target for the company from $52.00 to $63.00 in a report on Friday, April 19th. Bank of America upped their target price on shares of Pure Storage from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Stifel Nicolaus upped their target price on shares of Pure Storage from $41.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Citigroup started coverage on shares of Pure Storage in a research note on Friday, March 15th. They issued a “buy” rating and a $65.00 target price on the stock. Finally, Susquehanna upped their target price on shares of Pure Storage from $45.00 to $65.00 and gave the stock a “positive” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.63.

Insiders Place Their Bets

In other Pure Storage news, CFO P. Kevan Krysler sold 15,286 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total value of $807,100.80. Following the completion of the transaction, the chief financial officer now owns 507,824 shares of the company’s stock, valued at $26,813,107.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Pure Storage news, CFO P. Kevan Krysler sold 15,286 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total value of $807,100.80. Following the completion of the transaction, the chief financial officer now owns 507,824 shares of the company’s stock, valued at $26,813,107.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Scott Dietzen sold 147,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $53.49, for a total transaction of $7,863,030.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $5,349,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 286,581 shares of company stock valued at $15,266,704. Insiders own 6.50% of the company’s stock.

Pure Storage Trading Down 2.2 %

NYSE:PSTG opened at $50.64 on Thursday. Pure Storage, Inc. has a 52 week low of $22.14 and a 52 week high of $58.46. The firm has a 50 day moving average of $50.49 and a 200 day moving average of $41.56. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $16.45 billion, a price-to-earnings ratio of 297.90, a PEG ratio of 6.73 and a beta of 1.15.

Pure Storage (NYSE:PSTG) last posted its earnings results on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The company had revenue of $789.81 million during the quarter, compared to analysts’ expectations of $784.31 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. Pure Storage’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pure Storage, Inc. will post 0.44 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.