Huntington National Bank Has $118,000 Stock Holdings in Pure Storage, Inc. $PSTG

Huntington National Bank raised its position in Pure Storage, Inc. (NYSE:PSTG) by 146.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,057 shares of the technology company’s stock after acquiring an additional 1,222 shares during the period. Huntington National Bank’s holdings in Pure Storage were worth $118,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PSTG. Mechanics Financial Corp bought a new stake in shares of Pure Storage in the second quarter worth $25,000. REAP Financial Group LLC increased its stake in Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after buying an additional 201 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in Pure Storage during the 1st quarter worth about $38,000. Nisa Investment Advisors LLC lifted its position in Pure Storage by 35.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock worth $40,000 after buying an additional 239 shares in the last quarter. Finally, Ramirez Asset Management Inc. boosted its stake in shares of Pure Storage by 40.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock worth $40,000 after buying an additional 200 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Pure Storage Trading Down 3.5%

PSTG stock opened at $89.83 on Friday. The business’s 50 day simple moving average is $88.32 and its 200 day simple moving average is $66.83. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $100.59. The firm has a market capitalization of $29.52 billion, a PE ratio of 219.09, a PEG ratio of 8.99 and a beta of 1.24.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. The firm had revenue of $763.77 million during the quarter. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. As a group, sell-side analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $92.49, for a total value of $9,249,000.00. Following the transaction, the insider directly owned 200,000 shares of the company’s stock, valued at $18,498,000. This represents a 33.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roxanne Taylor sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $76.93, for a total transaction of $230,790.00. Following the sale, the director owned 16,343 shares of the company’s stock, valued at $1,257,266.99. This trade represents a 15.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 343,111 shares of company stock worth $27,634,439 in the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PSTG shares. Wells Fargo & Company upped their target price on Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Bank of America upped their price objective on Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Raymond James Financial increased 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. Wall Street Zen upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Pure Storage from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.56.

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.