Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,245,505 shares of the technology company’s stock after selling 189,600 shares during the period. Renaissance Technologies LLC owned 1.00% of Pure Storage worth $208,394,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PSTG. Dimensional Fund Advisors LP boosted its holdings in shares of Pure Storage by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock valued at $41,666,000 after acquiring an additional 28,086 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Pure Storage by 44.1% in the 4th quarter. Private Advisor Group LLC now owns 11,235 shares of the technology company’s stock valued at $401,000 after acquiring an additional 3,437 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Pure Storage in the 4th quarter valued at approximately $592,000. State of Alaska Department of Revenue purchased a new stake in shares of Pure Storage in the 1st quarter valued at approximately $1,675,000. Finally, Texas Permanent School Fund Corp purchased a new stake in Pure Storage in the 1st quarter worth approximately $13,514,000. Institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup cut their target price on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Wedbush reissued an “outperform” rating and issued a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. Stifel Nicolaus reduced their price target on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, August 29th. Guggenheim reaffirmed a “buy” rating and set a $72.00 price objective on shares of Pure Storage in a report on Tuesday, June 25th. Finally, Evercore ISI cut their price target on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One investment 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’s stock. According to data from MarketBeat, Pure Storage has an average rating of “Moderate Buy” and a consensus price target of $66.95.

Pure Storage Stock Performance

Shares of PSTG opened at $48.90 on Monday. The firm has a 50-day moving average of $57.26 and a 200-day moving average of $57.21. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The company has a market cap of $15.90 billion, a PE ratio of 174.64, a price-to-earnings-growth ratio of 7.40 and a beta of 1.11. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the completion of the sale, the insider now owns 700,000 shares in the company, valued at approximately $43,232,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total value of $6,176,000.00. Following the completion of the sale, the insider now owns 700,000 shares in the company, valued at approximately $43,232,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO P. Kevan Krysler sold 14,296 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $63.79, for a total transaction of $911,941.84. Following the completion of the transaction, the chief financial officer now directly owns 518,623 shares in the company, valued at $33,082,961.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 324,177 shares of company stock worth $18,863,083. 6.00% of the stock is owned by insiders.

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.