Victory Capital Management Inc. Purchases 14,901 Shares of Pure Storage, Inc. (NYSE:PSTG)

Victory Capital Management Inc. lifted its position in Pure Storage, Inc. (NYSE:PSTG) by 6.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 230,393 shares of the technology company’s stock after purchasing an additional 14,901 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of Pure Storage worth $11,575,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Covestor Ltd grew its position in Pure Storage by 277.0% in the first quarter. Covestor Ltd now owns 1,489 shares of the technology company’s stock worth $77,000 after acquiring an additional 1,094 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Pure Storage in the first quarter worth about $315,000. CANADA LIFE ASSURANCE Co grew its position in Pure Storage by 182.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 216,808 shares of the technology company’s stock worth $11,262,000 after acquiring an additional 140,071 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Pure Storage in the first quarter worth about $1,065,000. Finally, Truvestments Capital LLC grew its position in Pure Storage by 10.6% in the first quarter. Truvestments Capital LLC now owns 9,641 shares of the technology company’s stock worth $501,000 after acquiring an additional 925 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Pure Storage Price Performance

Shares of PSTG opened at $49.77 on Thursday. The firm has a market capitalization of $16.31 billion, a PE ratio of 124.75, a price-to-earnings-growth ratio of 6.54 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 1-year low of $31.00 and a 1-year high of $70.41. The company’s fifty day moving average price is $51.54 and its 200-day moving average price is $56.94.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The firm had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. On average, equities research analysts predict that Pure Storage, Inc. will post 0.42 EPS for the current year.

Insider Buying and Selling at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now directly owns 500,000 shares of the company’s stock, valued at $24,970,000. This represents a 16.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mona Chu sold 25,000 shares of the stock in a transaction dated 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 sale, the chief accounting officer now directly owns 96,639 shares in the company, valued at approximately $4,862,874.48. The trade was a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 354,542 shares of company stock valued at $18,599,030. 6.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Piper Sandler dropped 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. Wedbush restated an “outperform” rating and set a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. TD Cowen dropped their target price on Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Raymond James dropped their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, UBS Group dropped their target price on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company 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 fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.95.

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.