Natixis Advisors LLC Has $3 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

Natixis Advisors LLC lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 49.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,707 shares of the technology company’s stock after selling 57,310 shares during the period. Natixis Advisors LLC’s holdings in Pure Storage were worth $3,000,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Sycomore Asset Management acquired a new position in shares of Pure Storage during the 2nd quarter worth $2,259,000. MinichMacGregor Wealth Management LLC acquired a new position in Pure Storage during the third quarter worth about $6,890,000. Heritage Wealth Management Inc. acquired a new stake in shares of Pure Storage in the 2nd quarter valued at approximately $721,000. Cetera Investment Advisers boosted its position in Pure Storage by 284.9% in the first quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock valued at $2,901,000 after buying an additional 41,305 shares in the last quarter. Finally, Maverick Capital Ltd. grew its position in Pure Storage by 274.9% during the 2nd quarter. Maverick Capital Ltd. now owns 22,564 shares of the technology company’s stock worth $1,449,000 after acquiring an additional 16,546 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PSTG has been the subject of several recent research reports. Needham & Company LLC decreased their price target on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research note 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. Guggenheim lifted their target price on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Oppenheimer began coverage on Pure Storage in a report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. Finally, Lake Street Capital reduced their price objective on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.95.

Pure Storage Stock Performance

Shares of PSTG opened at $51.66 on Monday. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The stock’s 50-day simple moving average is $51.70 and its 200 day simple moving average is $56.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The stock has a market capitalization of $16.93 billion, a price-to-earnings ratio of 129.15, a price-to-earnings-growth ratio of 7.00 and a beta of 1.10.

Pure Storage (NYSE:PSTG) last released 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 analyst estimates of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. Research analysts forecast that Pure Storage, Inc. will post 0.42 EPS for the current fiscal year.

Insider Activity at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the completion of the sale, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. The trade was a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total transaction of $450,709.65. Following the transaction, the executive now directly owns 94,446 shares in the company, valued at approximately $4,785,578.82. This represents a 8.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,542 shares of company stock valued at $18,599,030 over the last three months. 6.00% of the stock is owned by corporate insiders.

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.