Envestnet Asset Management Inc. Has $13.90 Million Holdings in Pure Storage, Inc. (NYSE:PSTG)

Envestnet Asset Management Inc. boosted its stake in Pure Storage, Inc. (NYSE:PSTG) by 192.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 216,459 shares of the technology company’s stock after purchasing an additional 142,451 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Pure Storage worth $13,899,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Pure Storage by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock valued at $1,652,735,000 after buying an additional 495,183 shares during the last quarter. First Trust Advisors LP boosted its holdings in Pure Storage by 4.2% in the fourth quarter. First Trust Advisors LP now owns 4,028,716 shares of the technology company’s stock valued at $143,664,000 after acquiring an additional 160,877 shares during the last quarter. Bank of New York Mellon Corp increased its position in Pure Storage by 56.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock valued at $237,345,000 after purchasing an additional 1,327,873 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Pure Storage by 12.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock worth $143,470,000 after purchasing an additional 249,761 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Pure Storage by 28.8% in the 4th quarter. Schroder Investment Management Group now owns 1,355,955 shares of the technology company’s stock worth $48,353,000 after purchasing an additional 302,964 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PSTG shares. Citigroup decreased their price objective on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Guggenheim reiterated a “buy” rating and set a $72.00 price target on shares of Pure Storage in a report on Tuesday, June 25th. Piper Sandler dropped their price objective on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Susquehanna restated a “positive” rating and set a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. Finally, Stifel Nicolaus lowered their target price on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $66.95.

Pure Storage Stock Down 0.8 %

PSTG stock opened at $49.81 on Wednesday. The firm has a market capitalization of $16.20 billion, a PE ratio of 177.89, a P/E/G ratio of 7.69 and a beta of 1.11. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The stock’s 50 day moving average is $55.06 and its 200-day moving average is $56.93.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The firm had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. Sell-side analysts expect that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the transaction, the executive now directly owns 94,446 shares of the company’s stock, valued at $4,785,578.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the transaction, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the transaction, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 433,072 shares of company stock valued at $24,307,792. Corporate insiders own 6.00% of the company’s stock.

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.