Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Synovus Financial Corp

Synovus Financial Corp reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 5.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,850 shares of the technology company’s stock after selling 2,017 shares during the period. Synovus Financial Corp’s holdings in Pure Storage were worth $748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSTG. CWM LLC raised its position in Pure Storage by 181.3% in the first quarter. CWM LLC now owns 1,381 shares of the technology company’s stock valued at $30,000 after purchasing an additional 890 shares during the period. Baillie Gifford & Co. purchased a new stake in Pure Storage in the fourth quarter valued at approximately $32,000. IFP Advisors Inc raised its position in Pure Storage by 82.3% in the first quarter. IFP Advisors Inc now owns 1,568 shares of the technology company’s stock valued at $34,000 after purchasing an additional 708 shares during the period. NEXT Financial Group Inc raised its position in Pure Storage by 103.5% in the first quarter. NEXT Financial Group Inc now owns 2,066 shares of the technology company’s stock valued at $44,000 after purchasing an additional 1,051 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in Pure Storage by 41.0% in the first quarter. Rockefeller Capital Management L.P. now owns 2,357 shares of the technology company’s stock valued at $50,000 after purchasing an additional 685 shares during the period. Hedge funds and other institutional investors own 84.01% of the company’s stock.

In other news, Director Anita M. Sands sold 30,380 shares of the stock in a transaction dated Thursday, April 8th. The shares were sold at an average price of $21.48, for a total transaction of $652,562.40. Following the completion of the sale, the director now owns 58,719 shares in the company, valued at $1,261,284.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.80% of the stock is currently owned by corporate insiders.

A number of brokerages have issued reports on PSTG. Credit Suisse Group boosted their target price on Pure Storage from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, February 25th. Lake Street Capital upped their price objective on Pure Storage from $22.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, February 25th. KeyCorp reaffirmed an “overweight” rating on shares of Pure Storage in a research report on Thursday, April 29th. Summit Insights reaffirmed a “buy” rating on shares of Pure Storage in a research report on Wednesday, February 24th. Finally, Stifel Nicolaus raised Pure Storage from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Friday, May 21st. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $27.44.

NYSE PSTG opened at $19.13 on Friday. The company has a quick ratio of 2.45, a current ratio of 2.51 and a debt-to-equity ratio of 1.01. Pure Storage, Inc. has a 1 year low of $13.91 and a 1 year high of $29.53. The firm has a market capitalization of $5.36 billion, a P/E ratio of -18.05 and a beta of 1.41. The company has a fifty day moving average of $19.70.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, May 26th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.06. Pure Storage had a negative net margin of 16.75% and a negative return on equity of 23.91%. As a group, sell-side analysts anticipate that Pure Storage, Inc. will post -0.57 earnings per share for the current year.

Pure Storage Company Profile

Pure Storage, Inc provides technology and data storage solutions in the United States and internationally. The company delivers solutions based on proprietary Purity Operating Environment Software that implements enterprise-class storage services, such as data reduction, encryption, and protection, as well as protocol services, including block, file, and object.

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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