Virtu Financial LLC Sells 43,452 Shares of Pure Storage, Inc. (NYSE:PSTG)

Virtu Financial LLC trimmed its stake in Pure Storage, Inc. (NYSE:PSTG) by 78.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,122 shares of the technology company’s stock after selling 43,452 shares during the period. Virtu Financial LLC’s holdings in Pure Storage were worth $778,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total value of $6,176,000.00. Following the completion of the transaction, the insider now owns 700,000 shares in the company, valued at approximately $43,232,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO P. Kevan Krysler sold 14,296 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $63.79, for a total value of $911,941.84. Following the transaction, the chief financial officer now owns 518,623 shares in the company, valued at $33,082,961.17. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the completion of the transaction, the insider now directly owns 700,000 shares in the company, valued at approximately $43,232,000. The disclosure for this sale can be found here. Insiders have sold a total of 324,177 shares of company stock worth $18,863,083 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PSTG. Northland Capmk cut Pure Storage from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 30th. Lake Street Capital cut their price target on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on shares of Pure Storage from $50.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Barclays upped their target price on shares of Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Finally, Piper Sandler decreased their price target on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and a consensus price target of $66.95.

Pure Storage Stock Up 1.0 %

Shares of NYSE PSTG opened at $49.76 on Friday. The business has a fifty day moving average of $55.94 and a two-hundred day moving average of $57.04. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The stock has a market cap of $16.18 billion, a PE ratio of 177.71, a PEG ratio of 7.49 and a beta of 1.11.

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.