Westfield Capital Management Co. LP Sells 524,150 Shares of Pure Storage, Inc. $PSTG

Westfield Capital Management Co. LP trimmed its holdings in Pure Storage, Inc. (NYSE:PSTG) by 33.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,033,724 shares of the technology company’s stock after selling 524,150 shares during the period. Westfield Capital Management Co. LP’s holdings in Pure Storage were worth $59,522,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Oppenheimer initiated coverage on shares of Pure Storage in a report on Monday. They issued an “outperform” rating and a $120.00 price target on the stock. Raymond James Financial increased their target price on Pure Storage from $88.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Northland Securities boosted their price target on Pure Storage from $63.00 to $71.00 and gave the company a “market perform” rating in a research note on Thursday, August 28th. Wedbush upped their price objective on Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Finally, Lake Street Capital increased their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.61.

Insider Transactions at Pure Storage

In other Pure Storage news, Director Roxanne Taylor sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.93, for a total transaction of $230,790.00. Following the completion of the transaction, the director owned 16,343 shares of the company’s stock, valued at approximately $1,257,266.99. The trade was a 15.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $91.59, for a total transaction of $9,159,000.00. Following the completion of the transaction, the insider directly owned 100,000 shares of the company’s stock, valued at $9,159,000. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 443,111 shares of company stock valued at $36,793,439. Company insiders own 5.60% of the company’s stock.

Pure Storage Price Performance

Shares of PSTG opened at $77.22 on Friday. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $100.59. The company has a market cap of $25.38 billion, a P/E ratio of 188.34, a P/E/G ratio of 8.99 and a beta of 1.24. The firm has a 50 day simple moving average of $89.31 and a two-hundred day simple moving average of $69.13.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $763.77 million for the quarter. On average, analysts expect 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.