XTX Topco Ltd Sells 10,996 Shares of Pure Storage, Inc. (NYSE:PSTG)

XTX Topco Ltd reduced its holdings in Pure Storage, Inc. (NYSE:PSTG) by 47.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,245 shares of the technology company’s stock after selling 10,996 shares during the quarter. XTX Topco Ltd’s holdings in Pure Storage were worth $786,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Pure Storage by 1.6% during the first quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock valued at $1,652,735,000 after purchasing an additional 495,183 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Pure Storage by 4.2% during 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 purchasing an additional 160,877 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Pure Storage by 56.1% during the second 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 in the last quarter. Blair William & Co. IL boosted its position in shares of Pure Storage by 0.7% during the second quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock valued at $151,405,000 after purchasing an additional 15,747 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Pure Storage by 12.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock valued at $143,470,000 after purchasing an additional 249,761 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Up 1.9 %

Pure Storage stock opened at $50.72 on Monday. The stock has a market cap of $16.50 billion, a PE ratio of 181.14, a price-to-earnings-growth ratio of 7.69 and a beta of 1.11. 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 one year low of $31.00 and a one year high of $70.41. The stock has a fifty day moving average of $55.66 and a 200 day moving average of $57.02.

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

Insider Activity at Pure Storage

In related 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 transaction of $5,950,000.00. Following the completion of the sale, the insider now owns 900,000 shares in the company, valued at $53,550,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated 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 owns 900,000 shares of the company’s stock, valued at $53,550,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the chief financial officer now directly owns 518,623 shares in the company, valued at approximately $33,082,961.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 324,177 shares of company stock worth $18,863,083. 6.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PSTG shares. Bank of America lifted their price target on Pure Storage from $57.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Raymond James dropped their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Piper Sandler dropped their target price on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on Pure Storage from $50.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, Lake Street Capital dropped their target price on Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.95.

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.