Pure Storage, Inc. $PSTG Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 33.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 231,101 shares of the technology company’s stock after selling 117,479 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.07% of Pure Storage worth $19,369,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Winnow Wealth LLC bought a new stake in shares of Pure Storage during the 3rd quarter worth $26,000. Assetmark Inc. lifted its holdings in shares of Pure Storage by 186.6% during the third quarter. Assetmark Inc. now owns 341 shares of the technology company’s stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Pure Storage by 402.8% during 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 boosted its position in shares of Pure Storage by 474.8% in the 2nd 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. Finally, Smartleaf Asset Management LLC increased its stake in Pure Storage by 40.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 468 shares of the technology company’s stock worth $39,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Performance

Pure Storage stock opened at $72.67 on Wednesday. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $100.59. The firm has a market cap of $23.99 billion, a PE ratio of 191.24, a P/E/G ratio of 5.76 and a beta of 1.27. The firm’s 50 day moving average price is $70.40 and its two-hundred day moving average price is $77.05.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, December 2nd. The technology company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The business had revenue of $964.45 million for the quarter, compared to analysts’ expectations of $955.60 million. During the same period in the previous year, the company posted $0.50 EPS. Pure Storage’s revenue was up 16.1% on a year-over-year basis. Equities analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PSTG has been the subject of a number of analyst reports. Susquehanna set a $105.00 price objective on shares of Pure Storage in a research note on Wednesday, December 3rd. Oppenheimer initiated coverage on shares of Pure Storage in a report on Monday, November 17th. They set an “outperform” rating and a $120.00 price target on the stock. UBS Group upped their price target on shares of Pure Storage from $55.00 to $60.00 and gave the company a “sell” rating in a research report on Wednesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Pure Storage in a research note on Wednesday, December 3rd. Finally, Northland Securities set a $77.00 target price on shares of Pure Storage in a research note on Wednesday, December 3rd. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.47.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $71.31, for a total transaction of $7,131,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the sale, the insider owned 215,091 shares of the company’s stock, valued at $14,441,209.74. This trade represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 5.60% of the company’s stock.

About Pure Storage

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.