First Republic Investment Management Inc. decreased its position in shares of Pure Storage Inc (NYSE:PSTG) by 78.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,199 shares of the technology company’s stock after selling 109,669 shares during the quarter. First Republic Investment Management Inc.’s holdings in Pure Storage were worth $461,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in PSTG. Coastal Investment Advisors Inc. increased its stake in shares of Pure Storage by 25.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 4,000 shares of the technology company’s stock valued at $61,000 after acquiring an additional 800 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Pure Storage by 90.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 7,786 shares of the technology company’s stock valued at $120,000 after purchasing an additional 3,696 shares during the period. Cortina Asset Management LLC grew its position in Pure Storage by 12.5% in the 2nd quarter. Cortina Asset Management LLC now owns 10,455 shares of the technology company’s stock valued at $160,000 after purchasing an additional 1,162 shares during the period. Aperio Group LLC acquired a new stake in Pure Storage in the 2nd quarter valued at $161,000. Finally, CAPROCK Group Inc. acquired a new stake in Pure Storage in the 2nd quarter valued at $162,000. Hedge funds and other institutional investors own 78.22% of the company’s stock.
PSTG traded down $0.03 during midday trading on Friday, hitting $17.72. The stock had a trading volume of 2,429,309 shares, compared to its average volume of 4,171,339. The company has a market cap of $4.55 billion, a P/E ratio of -25.31 and a beta of 1.75. Pure Storage Inc has a 1 year low of $12.68 and a 1 year high of $28.99. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.14 and a current ratio of 3.21. The business has a fifty day moving average of $15.08 and a 200 day moving average of $18.11.
Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, August 21st. The technology company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. The firm had revenue of $396.30 million during the quarter, compared to analyst estimates of $392.34 million. Pure Storage had a negative return on equity of 25.22% and a negative net margin of 14.51%. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share. On average, equities research analysts anticipate that Pure Storage Inc will post -0.7 earnings per share for the current year.
A number of research firms have issued reports on PSTG. Lake Street Capital set a $19.00 price objective on shares of Pure Storage and gave the stock a “buy” rating in a report on Thursday, August 22nd. Maxim Group raised shares of Pure Storage from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $18.00 to $20.00 in a report on Thursday, August 22nd. Stifel Nicolaus cut their price objective on shares of Pure Storage from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, May 22nd. Credit Suisse Group cut their price objective on shares of Pure Storage from $23.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Finally, Cowen reissued an “outperform” rating and issued a $23.00 price target (down from $28.00) on shares of Pure Storage in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $21.10.
In other news, CFO Timothy Riitters sold 10,420 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $15.78, for a total transaction of $164,427.60. Following the completion of the sale, the chief financial officer now owns 417,425 shares of the company’s stock, valued at $6,586,966.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.00% of the company’s stock.
Pure Storage Profile
Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack and Artificial Intelligence Ready Infrastructure converged infrastructure solutions.
Featured Article: How to Invest in a Bull Market
Receive News & Ratings for Pure Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage and related companies with MarketBeat.com's FREE daily email newsletter.