Mutual of America Capital Management LLC reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG – Free Report) 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
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.
View Our Latest Analysis on Pure Storage
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.
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