Pure Storage, Inc. $PSTG Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in Pure Storage, Inc. (NYSE:PSTG) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,333,520 shares of the technology company’s stock after selling 10,138 shares during the period. Federated Hermes Inc. owned approximately 0.41% of Pure Storage worth $111,762,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Pure Storage by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,268,006 shares of the technology company’s stock valued at $1,915,572,000 after buying an additional 308,738 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Pure Storage by 1.7% in the second quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company’s stock valued at $417,830,000 after acquiring an additional 123,320 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Pure Storage by 112.9% during the second quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock worth $283,687,000 after acquiring an additional 2,612,300 shares during the period. Norges Bank purchased a new position in Pure Storage during the second quarter worth about $225,203,000. Finally, Atreides Management LP purchased a new stake in Pure Storage in the 2nd quarter valued at approximately $204,552,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total value of $7,131,000.00. 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 7,178 shares of the stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the sale, the insider directly owned 215,091 shares in the company, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 207,178 shares of company stock valued at $16,771,931 over the last 90 days. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Pure Storage from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Susquehanna set a $105.00 price objective on Pure Storage in a research report on Wednesday, December 3rd. Morgan Stanley set a $83.00 target price on shares of Pure Storage in a research report on Wednesday, December 3rd. UBS Group increased their price target on shares of Pure Storage from $55.00 to $60.00 and gave the company a “sell” rating in a report on Wednesday, December 3rd. Finally, Tigress Financial set a $105.00 price objective on shares of Pure Storage in a report on Wednesday, December 3rd. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and an average price target of $95.26.

Pure Storage Stock Up 0.2%

NYSE:PSTG opened at $74.24 on Thursday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $100.59. The stock has a fifty day simple moving average of $72.79 and a 200-day simple moving average of $75.51. The company has a market capitalization of $24.51 billion, a PE ratio of 195.37, a price-to-earnings-growth ratio of 8.23 and a beta of 1.26.

Pure Storage (NYSE:PSTG) last posted its earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. The firm had revenue of $763.77 million during the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. As a group, equities analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Pure Storage Company Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.