Pure Storage Inc (NYSE:PSTG) Position Trimmed by Cerebellum GP LLC

Cerebellum GP LLC lessened its stake in shares of Pure Storage Inc (NYSE:PSTG) by 92.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,220 shares of the technology company’s stock after selling 15,418 shares during the period. Cerebellum GP LLC’s holdings in Pure Storage were worth $27,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. William Blair Investment Management LLC lifted its holdings in Pure Storage by 27.9% during the 1st quarter. William Blair Investment Management LLC now owns 12,650,885 shares of the technology company’s stock worth $275,663,000 after buying an additional 2,761,026 shares during the period. JPMorgan Chase & Co. increased its position in Pure Storage by 262.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,896,951 shares of the technology company’s stock valued at $63,125,000 after buying an additional 2,097,011 shares in the last quarter. Vanguard Group Inc increased its position in Pure Storage by 14.4% in the 3rd quarter. Vanguard Group Inc now owns 15,371,526 shares of the technology company’s stock valued at $398,892,000 after buying an additional 1,933,591 shares in the last quarter. Blair William & Co. IL increased its holdings in Pure Storage by 60.0% during the 1st quarter. Blair William & Co. IL now owns 4,961,032 shares of the technology company’s stock worth $108,101,000 after purchasing an additional 1,859,451 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Pure Storage during the 1st quarter worth approximately $37,727,000. Hedge funds and other institutional investors own 79.10% of the company’s stock.

PSTG traded up $0.17 during trading on Friday, hitting $15.93. The stock had a trading volume of 2,623,703 shares, compared to its average volume of 3,105,456. The company has a quick ratio of 3.25, a current ratio of 3.35 and a debt-to-equity ratio of 0.75. Pure Storage Inc has a twelve month low of $13.99 and a twelve month high of $29.14. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of -22.76 and a beta of 1.81. The business has a 50-day moving average of $15.73.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Tuesday, May 21st. The technology company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.08). The business had revenue of $326.70 million during the quarter, compared to analyst estimates of $333.83 million. Pure Storage had a negative net margin of 14.99% and a negative return on equity of 25.55%. As a group, analysts predict that Pure Storage Inc will post -0.79 earnings per share for the current year.

In other news, Director Scott Dietzen sold 100,000 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $23.05, for a total transaction of $2,305,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Timothy Riitters sold 10,420 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $15.59, for a total transaction of $162,447.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,260 shares of company stock worth $3,537,743. 10.00% of the stock is owned by insiders.

Several research firms recently commented on PSTG. Credit Suisse Group upped their price objective on TJX Companies from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, May 22nd. Piper Jaffray Companies lowered their price objective on Pure Storage from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 22nd. Morgan Stanley reduced their target price on Pure Storage from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 22nd. Wells Fargo & Co restated a “hold” rating and issued a $175.00 price objective on shares of Advance Auto Parts in a report on Wednesday, May 22nd. Finally, Stifel Nicolaus set a $154.00 target price on shares of argenx and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Pure Storage currently has an average rating of “Buy” and a consensus price target of $24.83.

About Pure Storage

Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack and Artificial Intelligence Ready Infrastructure converged infrastructure solutions.

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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