Metis Global Partners LLC Has $214,000 Position in Pure Storage, Inc. $PSTG

Metis Global Partners LLC decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 31.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,720 shares of the technology company’s stock after selling 1,745 shares during the period. Metis Global Partners LLC’s holdings in Pure Storage were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC raised its holdings in shares of Pure Storage by 22.6% during the 1st quarter. LPL Financial LLC now owns 118,368 shares of the technology company’s stock worth $5,240,000 after buying an additional 21,812 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Pure Storage by 13.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company’s stock valued at $12,209,000 after acquiring an additional 32,611 shares during the last quarter. Crumly & Associates Inc. acquired a new position in Pure Storage during the second quarter worth about $242,000. Michael S. Ryan Inc. bought a new position in shares of Pure Storage in the second quarter worth about $254,000. Finally, Brighton Jones LLC acquired a new stake in shares of Pure Storage in the 2nd quarter valued at approximately $359,000. 83.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 6,051 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total transaction of $528,978.42. Following the completion of the transaction, the executive owned 62,759 shares in the company, valued at approximately $5,486,391.78. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ajay Singh sold 7,014 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total transaction of $602,151.90. Following the completion of the transaction, the insider owned 229,307 shares in the company, valued at $19,686,005.95. This trade represents a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 443,111 shares of company stock worth $36,793,439. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

PSTG has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of Pure Storage from $57.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, August 29th. Lake Street Capital upped their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Raymond James Financial raised their price objective on Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Morgan Stanley boosted their price objective on Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 28th. Finally, Northland Securities increased their target price on Pure Storage from $63.00 to $71.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Twelve analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Pure Storage has an average rating of “Moderate Buy” and an average price target of $89.65.

Pure Storage Stock Down 5.4%

NYSE PSTG opened at $83.81 on Friday. The company has a market capitalization of $27.54 billion, a price-to-earnings ratio of 204.42, a PEG ratio of 8.99 and a beta of 1.24. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $100.59. The stock has a fifty day simple moving average of $89.14 and a 200 day simple moving average of $67.88.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The firm had revenue of $763.77 million for the quarter. Research analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal 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.