Two Sigma Investments LP Has $2.99 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Two Sigma Investments LP cut its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 73.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,736 shares of the technology company's stock after selling 136,585 shares during the quarter. Two Sigma Investments LP's holdings in Pure Storage were worth $2,994,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PSTG. Barclays PLC lifted its holdings in Pure Storage by 9.4% during the 3rd quarter. Barclays PLC now owns 316,911 shares of the technology company's stock worth $15,921,000 after purchasing an additional 27,345 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Pure Storage by 59.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 64,692 shares of the technology company's stock worth $3,974,000 after buying an additional 24,232 shares in the last quarter. PFG Investments LLC bought a new stake in shares of Pure Storage in the fourth quarter valued at about $296,000. Blue Trust Inc. grew its stake in shares of Pure Storage by 11.2% in the fourth quarter. Blue Trust Inc. now owns 4,634 shares of the technology company's stock valued at $285,000 after acquiring an additional 468 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Pure Storage by 0.6% during the 4th quarter. KBC Group NV now owns 39,523 shares of the technology company's stock worth $2,428,000 after purchasing an additional 246 shares in the last quarter. Institutional investors own 83.42% of the company's stock.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $52.01, for a total value of $5,201,000.00. Following the transaction, the insider now directly owns 801,959 shares of the company's stock, valued at $41,709,887.59. The trade was a 11.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Dan Fitzsimons sold 6,977 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $40.91, for a total value 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 valued at $5,531,346. Company insiders own 5.60% of the company's stock.

Pure Storage Trading Up 0.8%

PSTG traded up $0.43 during trading on Wednesday, reaching $55.30. 406,539 shares of the company's stock were exchanged, compared to its average volume of 2,993,151. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The firm has a fifty day moving average price of $47.58 and a two-hundred day moving average price of $56.03. The stock has a market capitalization of $18.03 billion, a PE ratio of 145.81, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05.

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

Analyst Ratings Changes

A number of research firms have commented on PSTG. Piper Sandler restated 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, May 29th. Wedbush restated an "outperform" rating and issued a $70.00 price target on shares of Pure Storage in a research report on Thursday, May 29th. Citigroup boosted their price target on Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Morgan Stanley raised their target price on shares of Pure Storage from $40.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Pure Storage presently has a consensus rating of "Moderate Buy" and an average 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.