Brown Advisory Inc. Sells 7,455 Shares of Pure Storage, Inc. (NYSE:PSTG)

Brown Advisory Inc. decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 162,853 shares of the technology company's stock after selling 7,455 shares during the quarter. Brown Advisory Inc.'s holdings in Pure Storage were worth $7,210,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Pure Storage during the first quarter worth about $213,000. Concurrent Investment Advisors LLC boosted its holdings in Pure Storage by 6.2% in the 1st quarter. Concurrent Investment Advisors LLC now owns 7,394 shares of the technology company's stock valued at $327,000 after purchasing an additional 429 shares in the last quarter. World Investment Advisors boosted its holdings in Pure Storage by 85.3% in the 1st quarter. World Investment Advisors now owns 17,855 shares of the technology company's stock valued at $790,000 after purchasing an additional 8,220 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Pure Storage in the 1st quarter valued at approximately $58,000. Finally, IFM Investors Pty Ltd boosted its holdings in Pure Storage by 3.0% in the 1st quarter. IFM Investors Pty Ltd now owns 62,116 shares of the technology company's stock valued at $2,750,000 after purchasing an additional 1,804 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Pure Storage Stock Performance

Shares of NYSE:PSTG traded down $1.17 on Friday, hitting $56.39. 2,250,341 shares of the company were exchanged, compared to its average volume of 2,921,481. The company's 50 day moving average price is $54.37 and its two-hundred day moving average price is $55.29. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of 152.41, a PEG ratio of 5.34 and a beta of 1.06.

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

Insider Activity

In other Pure Storage news, Director John Francis Murphy sold 11,234 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $55.13, for a total value of $619,330.42. Following the sale, the director directly owned 21,930 shares in the company, valued at approximately $1,209,000.90. This trade represents a 33.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 6,000 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $51.65, for a total transaction of $309,900.00. Following the sale, the executive directly owned 75,965 shares of the company's stock, valued at $3,923,592.25. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,684 shares of company stock valued at $7,713,802. 5.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of research reports. Evercore ISI lifted their price target on shares of Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Pure Storage from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Barclays lowered their price objective on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a research note on Thursday, May 29th. Wall Street Zen raised shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Citigroup boosted their price objective on shares of Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Pure Storage has an average rating of "Moderate Buy" and a consensus price target 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.