Pure Storage, Inc. (NYSE:PSTG) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in Pure Storage, Inc. (NYSE:PSTG) by 32.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,626 shares of the technology company’s stock after selling 54,879 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Pure Storage were worth $7,360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its stake in Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after buying an additional 161 shares during the last quarter. Harbour Investments Inc. lifted its stake in Pure Storage by 3.0% in the second quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock valued at $444,000 after buying an additional 202 shares during the last quarter. Michael S. Ryan Inc. lifted its stake in Pure Storage by 4.8% in the second quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company’s stock valued at $292,000 after buying an additional 208 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Pure Storage by 3.2% in the second quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company’s stock valued at $462,000 after buying an additional 223 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Pure Storage by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 54,073 shares of the technology company’s stock valued at $1,928,000 after buying an additional 242 shares during the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Trading Up 1.3 %

Shares of PSTG stock opened at $48.90 on Monday. The business’s fifty day moving average price is $57.26 and its 200 day moving average price is $57.21. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41. The firm has a market capitalization of $15.90 billion, a PE ratio of 174.64, a P/E/G ratio of 7.40 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Pure Storage from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Susquehanna reiterated a “positive” rating and issued a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. KeyCorp boosted their price objective on Pure Storage from $64.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Raymond James cut their price target on Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Finally, Evercore ISI cut their price target on Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.95.

Insider Buying and Selling

In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.79, for a total value of $911,941.84. Following the sale, the chief financial officer now owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $59.50, for a total value of $5,950,000.00. Following the sale, the insider now owns 900,000 shares of the company’s stock, valued at $53,550,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $63.79, for a total value of $911,941.84. Following the completion of the sale, the chief financial officer now directly owns 518,623 shares in the company, valued at approximately $33,082,961.17. The disclosure for this sale can be found here. Insiders have sold 324,177 shares of company stock valued at $18,863,083 over the last quarter. Company 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.