NBC Securities Inc. Sells 1,693 Shares of Pure Storage, Inc. (NYSE:PSTG)

NBC Securities Inc. lessened its stake in Pure Storage, Inc. (NYSE:PSTG) by 35.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,093 shares of the technology company’s stock after selling 1,693 shares during the quarter. NBC Securities Inc.’s holdings in Pure Storage were worth $161,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sei Investments Co. lifted its holdings in Pure Storage by 19.7% during the third quarter. Sei Investments Co. now owns 464,256 shares of the technology company’s stock worth $16,537,000 after acquiring an additional 76,421 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Pure Storage by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock valued at $41,666,000 after buying an additional 28,086 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Pure Storage in the fourth quarter valued at $514,000. Private Advisor Group LLC raised its stake in shares of Pure Storage by 44.1% in the fourth quarter. Private Advisor Group LLC now owns 11,235 shares of the technology company’s stock valued at $401,000 after buying an additional 3,437 shares during the period. Finally, Raymond James & Associates raised its stake in shares of Pure Storage by 11.1% in the fourth quarter. Raymond James & Associates now owns 306,862 shares of the technology company’s stock valued at $10,943,000 after buying an additional 30,642 shares during the period. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PSTG. Bank of America lifted their price target on Pure Storage from $57.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. UBS Group lifted their price target on Pure Storage from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Raymond James lifted their price target on Pure Storage from $63.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Barclays boosted their target price on Pure Storage from $51.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Finally, Citigroup boosted their target price on Pure Storage from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.68.

Pure Storage Stock Down 2.2 %

PSTG stock opened at $64.48 on Monday. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The business’s 50 day moving average price is $58.52 and its two-hundred day moving average price is $48.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 2.00. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of 230.29, a price-to-earnings-growth ratio of 6.65 and a beta of 1.06.

Pure Storage (NYSE:PSTG) last posted its earnings results on Wednesday, May 29th. The technology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. The firm had revenue of $693.48 million for the quarter, compared to the consensus estimate of $681.37 million. As a group, analysts forecast that Pure Storage, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott Dietzen sold 147,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $53.49, for a total value of $7,863,030.00. Following the sale, the director now owns 100,000 shares in the company, valued at approximately $5,349,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Pure Storage news, Director Scott Dietzen sold 147,000 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $53.49, for a total transaction of $7,863,030.00. Following the sale, the director now directly owns 100,000 shares in the company, valued at approximately $5,349,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mallun Yen sold 4,818 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $64.78, for a total value of $312,110.04. Following the sale, the director now owns 35,498 shares in the company, valued at $2,299,560.44. The disclosure for this sale can be found here. Insiders have sold 291,399 shares of company stock worth $15,578,814 in the last 90 days. Insiders own 6.00% of the company’s stock.

About Pure Storage

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.