Whittier Trust Co. of Nevada Inc. Has $1.59 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Whittier Trust Co. of Nevada Inc. increased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 8.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,730 shares of the technology company’s stock after buying an additional 2,499 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Pure Storage were worth $1,594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Pure Storage by 0.3% in the 4th quarter. Wellington Management Group LLP now owns 548,430 shares of the technology company’s stock valued at $19,557,000 after buying an additional 1,893 shares during the period. GAMMA Investing LLC raised its position in Pure Storage by 197.4% in the first quarter. GAMMA Investing LLC now owns 928 shares of the technology company’s stock worth $48,000 after purchasing an additional 616 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Pure Storage during the first quarter worth about $25,000. Brookstone Capital Management boosted its holdings in Pure Storage by 7.3% during the first quarter. Brookstone Capital Management now owns 8,627 shares of the technology company’s stock valued at $449,000 after purchasing an additional 584 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Pure Storage in the 1st quarter worth approximately $73,000. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Performance

PSTG stock opened at $52.99 on Wednesday. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The company has a market cap of $17.36 billion, a P/E ratio of 132.48, a price-to-earnings-growth ratio of 8.95 and a beta of 1.11. The business’s fifty day moving average is $53.02 and its 200-day moving average is $56.99.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.10. The firm had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. Equities research analysts forecast that Pure Storage, Inc. will post 0.43 EPS for the current year.

Insider Activity at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total transaction of $450,709.65. Following the completion of the transaction, the executive now owns 94,446 shares in the company, valued at approximately $4,785,578.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the sale, the insider now owns 700,000 shares of the company’s stock, valued at $43,232,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the transaction, the executive now owns 94,446 shares of the company’s stock, valued at $4,785,578.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 454,542 shares of company stock worth $24,282,030 in the last ninety days. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PSTG shares. Guggenheim lifted their price objective on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Wedbush reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. Citigroup dropped their price objective on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Northland Securities reissued a “market perform” rating and issued a $59.00 target price (down from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Finally, Stifel Nicolaus reduced their price objective on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.05.

Pure Storage Company 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.