Glynn Capital Management LLC lowered its stake in shares of Pure Storage Inc. (NYSE:PSTG) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,071,495 shares of the company’s stock after selling 190,860 shares during the period. Pure Storage accounts for 7.4% of Glynn Capital Management LLC’s holdings, making the stock its 5th largest position. Glynn Capital Management LLC’s holdings in Pure Storage were worth $22,579,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Gradient Investments LLC acquired a new position in Pure Storage during the second quarter worth approximately $330,000. Squarepoint Ops LLC raised its position in Pure Storage by 83.8% in the first quarter. Squarepoint Ops LLC now owns 49,800 shares of the company’s stock worth $682,000 after buying an additional 22,700 shares during the last quarter. Westend Capital Management LLC acquired a new position in Pure Storage during the first quarter worth approximately $488,000. A.R.T. Advisors LLC acquired a new position in Pure Storage during the first quarter worth approximately $859,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Pure Storage during the first quarter worth approximately $431,000. Institutional investors own 49.38% of the company’s stock.
Pure Storage Inc. (NYSE:PSTG) traded down 2.52% on Monday, reaching $12.38. 1,625,341 shares of the company traded hands. Pure Storage Inc. has a 52-week low of $9.62 and a 52-week high of $19.86. The company’s market capitalization is $2.43 billion. The stock has a 50-day moving average of $13.26 and a 200 day moving average of $12.86.
Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Thursday, August 25th. The company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $163.21 million for the quarter, compared to analysts’ expectations of $155.14 million. Pure Storage had a negative net margin of 38.27% and a negative return on equity of 38.48%. The business’s revenue was up 92.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.33) EPS. On average, equities analysts forecast that Pure Storage Inc. will post ($0.63) EPS for the current year.
A number of equities analysts have recently commented on the company. Vetr upgraded Pure Storage from a “buy” rating to a “strong-buy” rating and set a $14.72 price objective on the stock in a research note on Monday. Morgan Stanley reiterated a “buy” rating and issued a $21.00 price objective on shares of Pure Storage in a research note on Monday, September 12th. Robert W. Baird reiterated a “hold” rating on shares of Pure Storage in a research note on Friday, September 9th. Oppenheimer Holdings Inc. upgraded Pure Storage from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research note on Wednesday, August 31st. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Pure Storage in a research note on Monday, August 29th. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $17.24.
In other Pure Storage news, CFO Timothy Riitters sold 3,231 shares of the stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $13.50, for a total value of $43,618.50. Following the transaction, the chief financial officer now directly owns 31,769 shares of the company’s stock, valued at approximately $428,881.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 46.58% of the stock is currently owned by company insiders.
Pure Storage Company Profile
Pure Storage, Inc provides an enterprise data storage platform. The Company’s storage platform consists of approximately three integrated components, including the Purity Operating Environment, which is its flash-optimized software; FlashArray, which is its modular and scalable all-flash array hardware, and Pure1, which is its cloud-based management and support.
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