Mutual of America Capital Management LLC Has $11.23 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Mutual of America Capital Management LLC reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,962 shares of the technology company’s stock after selling 2,006 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of Pure Storage worth $11,234,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Citizens Financial Group Inc. RI acquired a new position in shares of Pure Storage in the 2nd quarter valued at approximately $1,890,000. Menard Financial Group LLC grew its position in shares of Pure Storage by 16.0% in the 2nd quarter. Menard Financial Group LLC now owns 9,874 shares of the technology company’s stock valued at $634,000 after purchasing an additional 1,365 shares during the period. Sierra Summit Advisors LLC grew its position in shares of Pure Storage by 27.3% in the 2nd quarter. Sierra Summit Advisors LLC now owns 7,035 shares of the technology company’s stock valued at $452,000 after purchasing an additional 1,510 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pure Storage by 22.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,303,863 shares of the technology company’s stock valued at $83,728,000 after purchasing an additional 235,356 shares during the period. Finally, OV Management LLC acquired a new position in shares of Pure Storage in the 2nd quarter valued at approximately $1,503,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Down 1.0 %

PSTG opened at $49.29 on Thursday. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41. The stock’s fifty day simple moving average is $56.26 and its 200 day simple moving average is $57.09. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The stock has a market cap of $16.03 billion, a PE ratio of 176.04, a price-to-earnings-growth ratio of 7.49 and a beta of 1.11.

Insider Activity at Pure Storage

In related news, CFO P. Kevan Krysler sold 14,296 shares of the 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 in the company, valued at approximately $33,082,961.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the insider now directly owns 900,000 shares of the company’s stock, valued at approximately $53,550,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the chief financial officer now directly owns 518,623 shares in the company, valued at $33,082,961.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 324,177 shares of company stock worth $18,863,083. Company insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PSTG shares. Wedbush reaffirmed an “outperform” rating and set a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. Evercore ISI reduced their price target on Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Needham & Company LLC reduced their price target on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Piper Sandler reduced their price target on Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, Wells Fargo & Company upped their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and a consensus price target of $66.95.

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.