Allspring Global Investments Holdings LLC Has $32,000 Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 52.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644 shares of the technology company’s stock after selling 715 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Pure Storage were worth $32,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Pure Storage by 56.1% in 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 acquiring an additional 1,327,873 shares during the period. Vanguard Group Inc. increased its position in 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 acquiring an additional 495,183 shares during the period. American International Group Inc. increased its position in Pure Storage by 9,131.0% in the 1st quarter. American International Group Inc. now owns 394,996 shares of the technology company’s stock valued at $20,536,000 after acquiring an additional 390,717 shares during the period. AQR Capital Management LLC increased its position in Pure Storage by 52.0% in the 2nd quarter. AQR Capital Management LLC now owns 917,804 shares of the technology company’s stock valued at $58,932,000 after acquiring an additional 314,164 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in Pure Storage in the 2nd quarter valued at approximately $19,278,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Performance

Shares of PSTG stock opened at $51.16 on Wednesday. The firm has a 50-day moving average of $51.20 and a 200-day moving average of $56.97. The company has a market cap of $16.76 billion, a P/E ratio of 127.90, a P/E/G ratio of 7.99 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.10 by $0.10. The company had revenue of $763.77 million during 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%. Equities research analysts forecast that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PSTG. Guggenheim upped their price target on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. TD Cowen reduced their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Piper Sandler reduced their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. UBS Group reduced their price objective on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. One investment 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. According to data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.05.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total value of $6,176,000.00. Following the completion of the sale, the insider now owns 700,000 shares in the company, valued at $43,232,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, 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 sale, the insider now owns 700,000 shares in the company, valued at approximately $43,232,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the transaction, the executive now owns 94,446 shares of the company’s stock, valued at $4,785,578.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 454,542 shares of company stock worth $24,775,030 over the last quarter. Insiders own 6.00% of the company’s stock.

Pure Storage 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.