Amova Asset Management Americas Inc. Sells 174,714 Shares of Pure Storage, Inc. $PSTG

Amova Asset Management Americas Inc. lessened its position in Pure Storage, Inc. (NYSE:PSTG) by 13.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,078,640 shares of the technology company’s stock after selling 174,714 shares during the period. Amova Asset Management Americas Inc. owned about 0.33% of Pure Storage worth $90,368,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. ARK Investment Management LLC boosted its position in Pure Storage by 12.6% in the third quarter. ARK Investment Management LLC now owns 347,093 shares of the technology company’s stock valued at $29,090,000 after buying an additional 38,768 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Pure Storage by 4.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 94,560 shares of the technology company’s stock worth $7,925,000 after acquiring an additional 4,000 shares in the last quarter. Victory Capital Management Inc. grew its position in Pure Storage by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,572,719 shares of the technology company’s stock worth $202,563,000 after acquiring an additional 50,566 shares during the last quarter. CI Investments Inc. increased its holdings in Pure Storage by 31.0% during the 3rd quarter. CI Investments Inc. now owns 1,671 shares of the technology company’s stock valued at $140,000 after purchasing an additional 395 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its holdings in Pure Storage by 143.7% during the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 13,405 shares of the technology company’s stock valued at $1,208,000 after purchasing an additional 7,905 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 7,178 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the sale, the insider owned 215,091 shares in the company, valued at $14,441,209.74. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on PSTG. Northland Securities set a $77.00 price objective on Pure Storage in a research note on Wednesday, December 3rd. Wedbush reissued an “outperform” rating and set a $100.00 price objective on shares of Pure Storage in a report on Monday, February 23rd. UBS Group raised their price objective on shares of Pure Storage from $60.00 to $63.00 and gave the company a “sell” rating in a research report on Thursday, February 26th. Susquehanna set a $105.00 target price on shares of Pure Storage in a research report on Wednesday, December 3rd. Finally, Evercore reissued an “outperform” rating on shares of Pure Storage in a report on Wednesday, December 3rd. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.32.

Pure Storage Stock Performance

PSTG opened at $61.35 on Thursday. The company has a fifty day moving average price of $70.09 and a two-hundred day moving average price of $77.70. The firm has a market capitalization of $20.26 billion, a PE ratio of 111.55, a P/E/G ratio of 4.62 and a beta of 1.29. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. Pure Storage had a return on equity of 14.36% and a net margin of 5.14%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $0.45 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. Equities analysts forecast that Pure Storage, Inc. will post 0.44 EPS 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.