Elo Mutual Pension Insurance Co Sells 22,396 Shares of Pure Storage, Inc. $PSTG

Elo Mutual Pension Insurance Co decreased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 50.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 22,190 shares of the technology company’s stock after selling 22,396 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Pure Storage were worth $1,278,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSTG. Mechanics Financial Corp acquired a new position in Pure Storage during the second quarter valued at approximately $25,000. True Wealth Design LLC boosted its holdings in shares of Pure Storage by 402.8% during the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock worth $32,000 after buying an additional 439 shares during the period. SouthState Corp boosted its holdings in shares of Pure Storage by 474.8% during the 2nd quarter. SouthState Corp now owns 592 shares of the technology company’s stock worth $34,000 after buying an additional 489 shares during the period. REAP Financial Group LLC grew its stake in Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after buying an additional 201 shares during the last quarter. Finally, Ramirez Asset Management Inc. raised its holdings in Pure Storage by 40.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock worth $40,000 after acquiring an additional 200 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Trading Up 3.4%

PSTG opened at $85.99 on Friday. The stock’s 50 day simple moving average is $89.04 and its 200-day simple moving average is $70.34. The stock has a market cap of $28.26 billion, a PE ratio of 209.74, a P/E/G ratio of 8.99 and a beta of 1.24. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59.

Pure Storage (NYSE:PSTG) last issued its earnings results on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. The firm had revenue of $763.77 million during the quarter. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%. Equities analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PSTG has been the subject of a number of recent analyst reports. Oppenheimer began coverage on shares of Pure Storage in a report on Monday, November 17th. They set an “outperform” rating and a $120.00 price target for the company. Needham & Company LLC increased their target price on Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Morgan Stanley lifted their price target on Pure Storage from $72.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Pure Storage in a research report on Wednesday, October 8th. Finally, Citigroup boosted their target price on shares of Pure Storage from $81.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.61.

Insider Buying and Selling at Pure Storage

In related news, CAO Mona Chu sold 9,091 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total value of $771,916.81. Following the sale, the chief accounting officer owned 107,353 shares of the company’s stock, valued at $9,115,343.23. The trade was a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ajay Singh sold 7,014 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total transaction of $602,151.90. Following the transaction, the insider owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 347,811 shares of company stock worth $31,067,815 in the last 90 days. 5.60% of the stock is currently owned by insiders.

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.