Amundi Trims Position in Pure Storage, Inc. $PSTG

Amundi trimmed its position in Pure Storage, Inc. (NYSE:PSTG) by 49.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,194,138 shares of the technology company’s stock after selling 2,116,492 shares during the quarter. Amundi owned approximately 0.67% of Pure Storage worth $122,872,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Penserra Capital Management LLC increased its holdings in Pure Storage by 11.8% during the 2nd quarter. Penserra Capital Management LLC now owns 1,666 shares of the technology company’s stock worth $95,000 after acquiring an additional 176 shares during the period. Empowered Funds LLC increased its holdings in shares of Pure Storage by 4.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock worth $212,000 after purchasing an additional 194 shares during the period. Ramirez Asset Management Inc. increased its holdings in shares of Pure Storage by 40.0% in the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 200 shares during the period. REAP Financial Group LLC raised its position in shares of Pure Storage by 49.0% in the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock worth $35,000 after buying an additional 201 shares in the last quarter. Finally, GraniteShares Advisors LLC boosted its stake in Pure Storage by 2.6% during the second quarter. GraniteShares Advisors LLC now owns 8,001 shares of the technology company’s stock valued at $461,000 after buying an additional 206 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $70.37 on Monday. The stock has a market capitalization of $23.13 billion, a P/E ratio of 185.18, a PEG ratio of 7.87 and a beta of 1.28. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $100.59. The firm’s 50 day simple moving average is $88.43 and its two-hundred day simple moving average is $71.61.

Pure Storage (NYSE:PSTG) last announced 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 during the quarter. As a group, equities analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Pure Storage

In related news, CAO Mona Chu sold 9,091 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.91, for a total transaction of $771,916.81. Following the transaction, the chief accounting officer directly owned 107,353 shares in the company, valued at $9,115,343.23. This trade represents a 7.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ajay Singh sold 7,014 shares of Pure Storage stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total value of $602,151.90. Following the completion of the transaction, the insider directly owned 229,307 shares in the company, valued at $19,686,005.95. This trade represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 327,311 shares of company stock valued at $29,498,100. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Oppenheimer began coverage on Pure Storage in a report on Monday, November 17th. They issued an “outperform” rating and a $120.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Pure Storage in a research note on Wednesday, December 3rd. Citigroup dropped their target price on shares of Pure Storage from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. TD Cowen increased their price target on shares of Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pure Storage in a research report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Pure Storage 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.