Pure Storage, Inc. (NYSE:PSTG) Position Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,905 shares of the technology company's stock after selling 5,998 shares during the period. Public Employees Retirement System of Ohio's holdings in Pure Storage were worth $6,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McIlrath & Eck LLC acquired a new position in shares of Pure Storage during the 4th quarter worth $25,000. Compass Financial Services Inc purchased a new position in Pure Storage during the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. purchased a new position in Pure Storage during the 4th quarter valued at about $31,000. Financial Life Planners acquired a new position in Pure Storage during the fourth quarter worth about $44,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Pure Storage by 157.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock valued at $44,000 after purchasing an additional 436 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the sale, the executive now owns 90,223 shares in the company, valued at $3,691,022.93. This trade represents a 7.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the sale, the insider now directly owns 801,959 shares of the company's stock, valued at approximately $41,709,887.59. The trade was a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,849 shares of company stock worth $5,531,346 over the last quarter. 5.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PSTG. JPMorgan Chase & Co. dropped 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. Wall Street Zen downgraded Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Bank of America reduced their price objective on Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Piper Sandler reaffirmed an "overweight" rating and set a $66.00 price objective (up previously from $53.00) on shares of Pure Storage in a research note on Thursday. Finally, Evercore ISI boosted their target price on shares of Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Pure Storage currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.40.

Pure Storage Price Performance

PSTG stock traded down $1.46 during trading on Thursday, reaching $53.69. 7,687,289 shares of the stock traded hands, compared to its average volume of 3,093,500. The firm has a market capitalization of $17.50 billion, a PE ratio of 141.28, a P/E/G ratio of 5.12 and a beta of 1.05. The business's 50 day moving average price is $47.37 and its 200-day moving average price is $55.89. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. Pure Storage had a return on equity of 16.06% and a net margin of 4.22%. The business had revenue of $778.49 million during the quarter, compared to analysts' expectations of $770.03 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company's revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

About Pure Storage

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.