Cresset Asset Management LLC Sells 141,704 Shares of Pure Storage, Inc. $PSTG

Cresset Asset Management LLC trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 44.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,407 shares of the technology company’s stock after selling 141,704 shares during the quarter. Cresset Asset Management LLC owned 0.05% of Pure Storage worth $10,330,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PSTG. Vanguard Group Inc. grew its stake in shares of Pure Storage by 0.9% in the second quarter. Vanguard Group Inc. now owns 33,268,006 shares of the technology company’s stock worth $1,915,572,000 after purchasing an additional 308,738 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Pure Storage by 25.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company’s stock worth $401,793,000 after buying an additional 1,868,782 shares during the period. Geode Capital Management LLC grew its position in shares of Pure Storage by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company’s stock valued at $417,830,000 after buying an additional 123,320 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Pure Storage by 112.9% in the second quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock valued at $283,687,000 after buying an additional 2,612,300 shares during the period. Finally, Norges Bank bought a new position in shares of Pure Storage during the second quarter worth about $225,203,000. Institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Down 2.5%

NYSE:PSTG opened at $70.37 on Friday. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $100.59. The stock has a market capitalization of $23.13 billion, a price-to-earnings ratio of 185.18, a PEG ratio of 6.55 and a beta of 1.27. The firm has a fifty day simple moving average of $88.43 and a two-hundred day simple moving average of $71.50.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The company had revenue of $763.77 million for the quarter. Equities analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,051 shares of the stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total value of $528,978.42. Following the transaction, the executive directly owned 62,759 shares in the company, valued at $5,486,391.78. This trade represents a 8.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, November 10th. The shares were sold at an average price of $91.59, for a total transaction of $9,159,000.00. Following the completion of the sale, the insider directly owned 100,000 shares of the company’s stock, valued at approximately $9,159,000. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 327,311 shares of company stock worth $29,498,100. Insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PSTG. Guggenheim increased their target price on shares of Pure Storage from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pure Storage in a research report on Wednesday, October 8th. Susquehanna set a $105.00 target price on shares of Pure Storage in a research note on Wednesday. Citigroup dropped their target price on shares of Pure Storage from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wall Street Zen downgraded Pure Storage from a “buy” rating to a “hold” rating in a report on Saturday. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.26.

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.