Summit Creek Advisors LLC Sells 41,643 Shares of Pure Storage, Inc. (NYSE:PSTG)

Summit Creek Advisors LLC reduced its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 488,637 shares of the technology company's stock after selling 41,643 shares during the period. Pure Storage makes up approximately 2.3% of Summit Creek Advisors LLC's portfolio, making the stock its 17th largest position. Summit Creek Advisors LLC owned about 0.15% of Pure Storage worth $17,425,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PSTG. Sei Investments Co. increased its stake in Pure Storage by 19.7% in the third quarter. Sei Investments Co. now owns 464,256 shares of the technology company's stock valued at $16,537,000 after purchasing an additional 76,421 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Pure Storage by 11.4% during the 3rd quarter. William Blair Investment Management LLC now owns 687,600 shares of the technology company's stock worth $24,492,000 after purchasing an additional 70,620 shares during the period. Weil Company Inc. acquired a new stake in Pure Storage during the 3rd quarter worth approximately $433,000. Sequoia Financial Advisors LLC acquired a new stake in Pure Storage during the 4th quarter worth approximately $514,000. Finally, Mackenzie Financial Corp increased its position in Pure Storage by 13.2% during the 4th quarter. Mackenzie Financial Corp now owns 533,530 shares of the technology company's stock worth $19,026,000 after purchasing an additional 62,274 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ajay Singh sold 37,588 shares of Pure Storage stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the completion of the sale, the insider now directly owns 380,834 shares in the company, valued at approximately $20,389,852.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Andrew William Fraser Brown sold 20,564 shares of the business's stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $52.31, for a total value of $1,075,702.84. Following the completion of the sale, 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 can be accessed through the SEC website. Also, insider Ajay Singh sold 37,588 shares of the business's stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $53.54, for a total value of $2,012,461.52. Following the completion of the sale, the insider now owns 380,834 shares of the company's stock, valued at $20,389,852.36. The disclosure for this sale can be found here. Insiders sold a total of 286,581 shares of company stock worth $15,266,704 in the last three months. 6.00% of the stock is owned by insiders.

Analyst Ratings Changes

PSTG has been the subject of a number of analyst reports. KeyCorp upped their price target on Pure Storage from $51.00 to $55.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. Susquehanna increased their target price on Pure Storage from $45.00 to $65.00 and gave the company a "positive" rating in a research note on Thursday, April 11th. Evercore ISI raised their price target on shares of Pure Storage from $41.00 to $48.00 and gave the stock an "outperform" rating in a research report on Friday, February 23rd. Barclays raised their price target on shares of Pure Storage from $42.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. Finally, UBS Group raised their price target on shares of Pure Storage from $38.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $51.63.

Pure Storage Price Performance

Pure Storage stock traded down $0.08 during midday trading on Monday, hitting $54.33. The company's stock had a trading volume of 1,882,210 shares, compared to its average volume of 4,277,305. The stock's 50-day moving average price is $52.63 and its 200-day moving average price is $43.11. The company has a market capitalization of $17.65 billion, a PE ratio of 319.61, a price-to-earnings-growth ratio of 7.07 and a beta of 1.15. Pure Storage, Inc. has a 12 month low of $23.25 and a 12 month high of $58.46. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share 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 for the quarter, compared to analysts' expectations of $784.31 million. During the same quarter last year, the business posted $0.27 EPS. Pure Storage's revenue was down 2.5% on a year-over-year basis. Analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

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.