LGT Group Foundation Has $8.02 Million Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

LGT Group Foundation lowered its stake in Pure Storage, Inc. (NYSE:PSTG) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 222,480 shares of the technology company’s stock after selling 24,879 shares during the period. LGT Group Foundation owned approximately 0.07% of Pure Storage worth $8,018,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSTG. Naples Money Management LLC bought a new position in shares of Pure Storage during the 4th quarter worth $25,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Pure Storage in the fourth quarter worth $45,000. First Horizon Advisors Inc. increased its position in Pure Storage by 53.3% in the third quarter. First Horizon Advisors Inc. now owns 1,380 shares of the technology company’s stock worth $49,000 after buying an additional 480 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Pure Storage during the fourth quarter valued at approximately $64,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Pure Storage during the fourth quarter valued at $67,000. Institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several research analyst reports. Bank of America increased their price objective on shares of Pure Storage from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Wedbush reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Pure Storage in a research report on Thursday, February 29th. Citigroup started coverage on Pure Storage in a report on Friday, March 15th. They issued a “buy” rating and a $65.00 price target for the company. StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Raymond James lowered Pure Storage from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $52.00 to $63.00 in a research note on Friday, April 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.63.

Insider Activity

In related news, CFO P. Kevan Krysler sold 15,286 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total transaction of $807,100.80. Following the transaction, the chief financial officer now directly owns 507,824 shares in the company, valued at approximately $26,813,107.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pure Storage news, Director Scott Dietzen sold 147,000 shares of Pure Storage stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $53.49, for a total transaction of $7,863,030.00. Following the completion of the sale, the director now directly owns 100,000 shares in the company, valued at $5,349,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO P. Kevan Krysler sold 15,286 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total transaction of $807,100.80. Following the completion of the sale, the chief financial officer now directly owns 507,824 shares in the company, valued at $26,813,107.20. The disclosure for this sale can be found here. Insiders sold a total of 286,581 shares of company stock valued at $15,266,704 in the last 90 days. Company insiders own 6.50% of the company’s stock.

Pure Storage Trading Up 0.9 %

Pure Storage stock traded up $0.48 during trading hours on Friday, reaching $51.91. 1,117,355 shares of the company’s stock were exchanged, compared to its average volume of 4,415,889. The firm has a market capitalization of $16.87 billion, a PE ratio of 303.78, a PEG ratio of 6.51 and a beta of 1.15. The firm’s 50 day simple moving average is $51.67 and its 200 day simple moving average is $42.18. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. Pure Storage, Inc. has a twelve month low of $22.14 and a twelve month high of $58.46.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.17 by $0.10. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The business had revenue of $789.81 million for the quarter, compared to the consensus estimate of $784.31 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. Pure Storage’s revenue for the quarter was down 2.5% on a year-over-year basis. Research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

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.