California Public Employees Retirement System Lowers Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

California Public Employees Retirement System cut its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 500,728 shares of the technology company’s stock after selling 14,437 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Pure Storage worth $17,856,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PSTG. CWM LLC increased its holdings in Pure Storage by 30.5% during the 4th quarter. CWM LLC now owns 6,145 shares of the technology company’s stock worth $219,000 after purchasing an additional 1,435 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Pure Storage by 11.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,654 shares of the technology company’s stock valued at $451,000 after buying an additional 1,308 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Pure Storage by 30.9% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,599 shares of the technology company’s stock valued at $521,000 after acquiring an additional 3,448 shares in the last quarter. Naples Money Management LLC purchased a new stake in Pure Storage in the fourth quarter worth about $25,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in Pure Storage by 66.7% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 775,000 shares of the technology company’s stock worth $27,637,000 after acquiring an additional 310,000 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling

In related news, CFO P. Kevan Krysler sold 15,286 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total value of $807,100.80. Following the transaction, the chief financial officer now owns 507,824 shares in the company, valued at approximately $26,813,107.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CRO Dan Fitzsimons sold 29,283 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total value of $1,526,815.62. Following the completion of the transaction, the executive now owns 138,105 shares of the company’s stock, valued at approximately $7,200,794.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO P. Kevan Krysler sold 15,286 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total value of $807,100.80. Following the completion of the sale, the chief financial officer now owns 507,824 shares in the company, valued at approximately $26,813,107.20. The disclosure for this sale can be found here. Insiders sold 286,581 shares of company stock valued at $15,266,704 over the last quarter. 6.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PSTG has been the topic of a number of recent research reports. Susquehanna increased their price objective on shares of Pure Storage from $45.00 to $65.00 and gave the company a “positive” rating in a research note on Thursday, April 11th. Citigroup assumed coverage on Pure Storage in a research report on Friday, March 15th. They set a “buy” rating and a $65.00 target price on the stock. StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley raised their price objective on Pure Storage from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $50.00 target price on shares of Pure Storage in a report on Thursday, February 29th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.63.

Pure Storage Trading Down 1.0 %

NYSE:PSTG opened at $52.44 on Tuesday. The company has a market capitalization of $17.04 billion, a P/E ratio of 308.49, a PEG ratio of 6.88 and a beta of 1.15. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. Pure Storage, Inc. has a 12 month low of $22.14 and a 12 month high of $58.46. The firm has a fifty day simple moving average of $51.05 and a 200-day simple moving average of $41.95.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10. The company had revenue of $789.81 million during the quarter, compared to analyst estimates of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. On average, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

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.