LGT Group Foundation Has $8.02 Million Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

LGT Group Foundation reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 222,480 shares of the technology company's stock after selling 24,879 shares during the quarter. LGT Group Foundation owned about 0.07% of Pure Storage worth $8,018,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. grew its holdings in Pure Storage by 53.3% during the third quarter. First Horizon Advisors Inc. now owns 1,380 shares of the technology company's stock worth $49,000 after acquiring an additional 480 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Pure Storage by 6.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,313 shares of the technology company's stock worth $296,000 after acquiring an additional 532 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in Pure Storage by 5.5% during the third quarter. Bank Pictet & Cie Europe AG now owns 10,331 shares of the technology company's stock worth $368,000 after acquiring an additional 535 shares during the period. Mariner LLC grew its holdings in Pure Storage by 2.9% during the third quarter. Mariner LLC now owns 19,548 shares of the technology company's stock worth $696,000 after acquiring an additional 553 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in Pure Storage by 20.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 3,681 shares of the technology company's stock worth $133,000 after acquiring an additional 630 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PSTG shares. Morgan Stanley lifted their price target on Pure Storage from $43.00 to $48.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th. Wedbush reissued an "outperform" rating and issued a $50.00 price target on shares of Pure Storage in a research note on Thursday, February 29th. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a research note on Friday, April 26th. JPMorgan Chase & Co. lifted their price target on Pure Storage from $45.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th. Finally, Raymond James cut Pure Storage from a "strong-buy" rating to an "outperform" rating and lifted their price target for the stock from $52.00 to $63.00 in a research note on Friday, April 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.63.

Pure Storage Stock Up 1.6 %

Shares of Pure Storage stock traded up $0.81 during trading on Friday, hitting $52.24. 1,881,527 shares of the stock traded hands, compared to its average volume of 4,425,727. The stock has a market cap of $16.97 billion, a P/E ratio of 307.31, a PEG ratio of 6.51 and a beta of 1.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.80 and a current ratio of 1.83. Pure Storage, Inc. has a twelve month low of $22.14 and a twelve month high of $58.46. The company has a fifty day moving average price of $51.67 and a two-hundred day moving average price of $42.18.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.10. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The firm had revenue of $789.81 million during the quarter, compared to analysts' expectations of $784.31 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The company's revenue was down 2.5% on a year-over-year basis. Equities research analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Pure Storage news, CRO Dan Fitzsimons sold 29,283 shares of the company's stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the completion of the sale, the executive now directly owns 138,105 shares in the company, valued at $7,200,794.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Andrew William Fraser Brown sold 20,564 shares of the company's stock in a transaction on Monday, April 15th. The shares were sold at an average price of $52.31, for a total transaction of $1,075,702.84. Following the completion of the transaction, the director now directly owns 24,400 shares in the company, valued at approximately $1,276,364. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 29,283 shares of the business's stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the transaction, the executive now owns 138,105 shares in the company, valued at approximately $7,200,794.70. The disclosure for this sale can be found here. Insiders have sold 286,581 shares of company stock worth $15,266,704 in the last quarter. 6.50% of the stock is currently owned by company insiders.

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.