Stanley Laman Group Ltd. Decreases Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Stanley Laman Group Ltd. lessened its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,192 shares of the technology company’s stock after selling 1,158 shares during the period. Stanley Laman Group Ltd.’s holdings in Pure Storage were worth $3,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its position in shares of Pure Storage by 5,725.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,614,837 shares of the technology company’s stock valued at $57,520,000 after buying an additional 1,587,116 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Pure Storage by 61.5% during the 3rd quarter. Acadian Asset Management LLC now owns 3,399,759 shares of the technology company’s stock valued at $121,081,000 after buying an additional 1,294,285 shares during the period. Qube Research & Technologies Ltd lifted its position in Pure Storage by 1,025.3% in the third quarter. Qube Research & Technologies Ltd now owns 1,269,927 shares of the technology company’s stock worth $45,235,000 after buying an additional 1,157,079 shares during the last quarter. Polar Capital Holdings Plc boosted its stake in Pure Storage by 33.8% during the third quarter. Polar Capital Holdings Plc now owns 4,068,672 shares of the technology company’s stock worth $144,926,000 after buying an additional 1,028,104 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Pure Storage by 83.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,068,255 shares of the technology company’s stock valued at $73,754,000 after acquiring an additional 943,850 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. TD Cowen lifted their price target on shares of Pure Storage from $42.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Morgan Stanley raised their price objective on shares of Pure Storage from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. KeyCorp upped their target price on Pure Storage from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Stifel Nicolaus raised their price target on Pure Storage from $41.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Finally, UBS Group upped their price objective on Pure Storage from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.63.

Insiders Place Their Bets

In related news, CRO Dan Fitzsimons sold 29,283 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the completion of the transaction, the executive now owns 138,105 shares in the company, valued at approximately $7,200,794.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CRO Dan Fitzsimons sold 29,283 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total value of $1,526,815.62. Following the completion of the sale, the executive now owns 138,105 shares of the company’s stock, valued at approximately $7,200,794.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roxanne Taylor sold 36,860 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $53.76, for a total value of $1,981,593.60. Following the completion of the sale, the director now owns 18,883 shares in the company, valued at approximately $1,015,150.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,581 shares of company stock worth $15,266,704. 6.50% of the stock is owned by corporate insiders.

Pure Storage Stock Up 3.2 %

Shares of NYSE PSTG traded up $1.60 during midday trading on Thursday, reaching $52.25. 2,809,996 shares of the company’s stock traded hands, compared to its average volume of 4,562,600. The company has a market cap of $16.98 billion, a price-to-earnings ratio of 307.37, a P/E/G ratio of 6.73 and a beta of 1.15. The stock’s 50 day simple moving average is $50.66 and its 200-day simple moving average is $41.63. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. Pure Storage, Inc. has a one year low of $22.14 and a one year high of $58.46.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. The business had revenue of $789.81 million for the quarter, compared to the consensus estimate of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.27 EPS. On average, analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Pure Storage Company Profile

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.