Pure Storage Inc (PSTG) Position Lessened by Marcus Capital LLC
Marcus Capital LLC lowered its position in shares of Pure Storage Inc (NYSE:PSTG) by 79.4% in the fourth quarter, HoldingsChannel reports. The firm owned 27,750 shares of the technology company’s stock after selling 106,700 shares during the period. Pure Storage makes up approximately 1.7% of Marcus Capital LLC’s investment portfolio, making the stock its 26th biggest holding. Marcus Capital LLC’s holdings in Pure Storage were worth $440,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in PSTG. Voya Investment Management LLC grew its holdings in Pure Storage by 64.7% during the 2nd quarter. Voya Investment Management LLC now owns 43,164 shares of the technology company’s stock worth $553,000 after acquiring an additional 16,955 shares during the last quarter. AXA grew its holdings in Pure Storage by 9.4% during the 3rd quarter. AXA now owns 346,700 shares of the technology company’s stock worth $5,544,000 after acquiring an additional 29,700 shares during the last quarter. Vanguard Group Inc. grew its holdings in Pure Storage by 26.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock worth $90,427,000 after acquiring an additional 1,489,008 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Pure Storage during the 4th quarter worth about $613,000. Finally, BARING ASSET MANAGEMENT Ltd bought a new stake in Pure Storage during the 3rd quarter worth about $252,000. Institutional investors and hedge funds own 37.57% of the company’s stock.
A number of brokerages have commented on PSTG. BidaskClub raised shares of Pure Storage from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. KeyCorp reissued a “buy” rating on shares of Pure Storage in a report on Wednesday, November 1st. Wells Fargo & Co began coverage on shares of Pure Storage in a report on Tuesday, November 14th. They set an “outperform” rating and a $22.00 price objective on the stock. Maxim Group reissued a “hold” rating and set a $20.00 price objective (up previously from $15.00) on shares of Pure Storage in a report on Wednesday, November 29th. Finally, UBS Group reissued a “buy” rating and set a $22.00 price objective (up previously from $18.00) on shares of Pure Storage in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.18.
Pure Storage (NYSE:PSTG) last issued its earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The company had revenue of $277.70 million for the quarter, compared to analyst estimates of $272.07 million. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.96%. The company’s revenue for the quarter was up 41.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) EPS. research analysts expect that Pure Storage Inc will post -0.93 earnings per share for the current fiscal year.
In related news, CFO Timothy Riitters sold 15,747 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $16.40, for a total value of $258,250.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President David Hatfield sold 130,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $18.05, for a total transaction of $2,346,500.00. The disclosure for this sale can be found here. Insiders sold a total of 877,362 shares of company stock worth $15,556,864 in the last ninety days. Insiders own 46.58% of the company’s stock.
Pure Storage Profile
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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