Handelsbanken Fonder AB Acquires 20,600 Shares of Pure Storage, Inc. (NYSE:PSTG)

Handelsbanken Fonder AB grew its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 30.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,053 shares of the technology company’s stock after buying an additional 20,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Pure Storage were worth $4,474,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PSTG. Banque Cantonale Vaudoise bought a new position in Pure Storage during the 1st quarter worth approximately $25,000. Fidelis Capital Partners LLC bought a new position in shares of Pure Storage in the first quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after buying an additional 161 shares during the period. Larson Financial Group LLC raised its holdings in Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after buying an additional 306 shares during the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in Pure Storage during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PSTG shares. Citigroup decreased their price objective on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Wedbush restated an “outperform” rating and set a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. Stifel Nicolaus dropped their price objective on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, August 29th. Lake Street Capital reduced their target price on Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, TD Cowen decreased their target price on Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and an average target price of $66.95.

Pure Storage Stock Performance

Shares of PSTG opened at $52.51 on Wednesday. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The stock has a market cap of $17.08 billion, a P/E ratio of 187.54, a P/E/G ratio of 7.83 and a beta of 1.11. The business’s 50 day moving average price is $53.41 and its 200-day moving average price is $56.85.

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

Insider Activity

In other Pure Storage news, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $51.01, for a total transaction of $5,101,000.00. Following the sale, the insider now directly owns 400,000 shares in the company, valued at $20,404,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at $4,862,874.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 543,776 shares of company stock worth $29,754,851 over the last 90 days. 6.00% of the stock is currently owned by insiders.

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.