Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Pure Storage, Inc. (NYSE:PSTG) by 22.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,063,776 shares of the technology company’s stock after buying an additional 747,034 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Pure Storage were worth $204,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its stake in Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after purchasing an additional 161 shares in the last quarter. Nvwm LLC grew its stake in Pure Storage by 23.3% during the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock worth $52,000 after purchasing an additional 194 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Pure Storage by 3.0% during the 2nd quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock worth $444,000 after acquiring an additional 202 shares in the last quarter. Michael S. Ryan Inc. boosted its position in shares of Pure Storage by 4.8% during the 2nd quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company’s stock worth $292,000 after acquiring an additional 208 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after acquiring an additional 219 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Stifel Nicolaus lowered their price objective on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. Guggenheim upped their price objective on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. TD Cowen reduced their target price on Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Raymond James reduced their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and a consensus price target of $67.95.

Pure Storage Stock Performance

Shares of PSTG stock opened at $49.77 on Thursday. The company has a market cap of $16.31 billion, a price-to-earnings ratio of 124.43, a price-to-earnings-growth ratio of 6.77 and a beta of 1.10. The stock has a 50 day simple moving average of $51.54 and a 200-day simple moving average of $56.94. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The business had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. On average, equities analysts forecast that Pure Storage, Inc. will post 0.42 EPS for the current year.

Insider Buying and Selling

In related news, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the sale, the chief accounting officer now owns 96,639 shares in the company, valued at $4,862,874.48. This represents a 20.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the completion of the sale, the insider now owns 500,000 shares in the company, valued at approximately $24,970,000. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 354,542 shares of company stock worth $18,599,030 in the last quarter. Company insiders own 6.00% of the company’s stock.

About Pure Storage

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.