Achmea Investment Management B.V. Lowers Position in Pure Storage, Inc. (NYSE:PSTG)

Achmea Investment Management B.V. trimmed its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 43.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,017 shares of the technology company's stock after selling 14,102 shares during the quarter. Achmea Investment Management B.V.'s holdings in Pure Storage were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. McIlrath & Eck LLC bought a new stake in Pure Storage in the 4th quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB increased its position in Pure Storage by 55.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after buying an additional 233 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in Pure Storage in the 4th quarter valued at about $31,000. FNY Investment Advisers LLC increased its position in Pure Storage by 5,233.3% in the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after buying an additional 785 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Pure Storage by 157.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock worth $44,000 after purchasing an additional 436 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Performance

NYSE PSTG traded down $0.15 on Friday, hitting $55.47. 3,768,917 shares of the stock traded hands, compared to its average volume of 2,932,933. The business's fifty day moving average is $51.90 and its two-hundred day moving average is $55.80. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $73.67. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 149.91, a PEG ratio of 5.28 and a beta of 1.05.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. Pure Storage had a return on equity of 13.98% and a net margin of 3.93%. The business had revenue of $778.49 million during the quarter, compared to analyst estimates of $770.03 million. During the same period in the prior year, the company earned $0.32 earnings per share. Pure Storage's revenue was up 12.3% compared to the same quarter last year. Analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Transactions at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,000 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $51.65, for a total value of $309,900.00. Following the completion of the transaction, the executive now directly owns 75,965 shares of the company's stock, valued at $3,923,592.25. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Francis Murphy sold 11,234 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $55.13, for a total value of $619,330.42. Following the completion of the sale, the director now owns 21,930 shares in the company, valued at $1,209,000.90. This trade represents a 33.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,083 shares of company stock valued at $6,460,576 over the last three months. Company insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PSTG shares. Evercore ISI boosted their price objective on Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Piper Sandler reissued an "overweight" rating and set a $66.00 price objective (up from $53.00) on shares of Pure Storage in a report on Thursday, May 29th. JPMorgan Chase & Co. decreased their price objective on Pure Storage from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, May 29th. Wall Street Zen raised Pure Storage from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Barclays decreased their price objective on Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.95.

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.