GTS Securities LLC Reduces Position in Pure Storage, Inc. (NYSE:PSTG)

GTS Securities LLC cut its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 88.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,018 shares of the technology company's stock after selling 40,336 shares during the quarter. GTS Securities LLC's holdings in Pure Storage were worth $308,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. McIlrath & Eck LLC purchased a new position in Pure Storage during the fourth quarter valued at approximately $25,000. Compass Financial Services Inc purchased a new position in Pure Storage in the fourth quarter worth $29,000. Crowley Wealth Management Inc. purchased a new position in Pure Storage in the fourth quarter worth $31,000. Financial Life Planners purchased a new position in Pure Storage in the fourth quarter worth $44,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Pure Storage by 157.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock worth $44,000 after purchasing an additional 436 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PSTG. Barclays cut their price target on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating on the stock in a report on Thursday. Bank of America lowered their price target on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday. Wall Street Zen downgraded Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Piper Sandler reissued an "overweight" rating and issued a $66.00 price target (up previously from $53.00) on shares of Pure Storage in a report on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $70.40.

Pure Storage Stock Performance

NYSE PSTG traded down $0.13 on Friday, reaching $53.51. 5,960,451 shares of the company's stock traded hands, compared to its average volume of 3,086,173. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 140.82, a P/E/G ratio of 5.12 and a beta of 1.05. The stock has a 50 day moving average price of $47.38 and a 200-day moving average price of $55.89. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67.

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

Insiders Place Their Bets

In other news, insider John Colgrove sold 100,000 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now owns 801,959 shares of the company's stock, valued at $41,709,887.59. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Dan Fitzsimons sold 6,977 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the sale, the executive now directly owns 90,223 shares of the company's stock, valued at $3,691,022.93. This represents a 7.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,849 shares of company stock worth $5,531,346. Company insiders own 5.60% of the company's stock.

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.