AMG National Trust Bank Sells 4,777 Shares of Pure Storage, Inc. (NYSE:PSTG)

AMG National Trust Bank lessened its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 18.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,503 shares of the technology company’s stock after selling 4,777 shares during the quarter. AMG National Trust Bank’s holdings in Pure Storage were worth $1,080,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its stake in shares of Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after purchasing an additional 161 shares during the period. Larson Financial Group LLC grew its position in Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after buying an additional 306 shares during the period. FSC Wealth Advisors LLC purchased a new stake in Pure Storage during the second quarter valued at approximately $33,000. ORG Partners LLC bought a new position in Pure Storage in the second quarter worth approximately $35,000. Finally, City State Bank raised its position in Pure Storage by 175.0% in the second quarter. City State Bank now owns 550 shares of the technology company’s stock worth $35,000 after acquiring an additional 350 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group reduced their price objective on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Oppenheimer started coverage on Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective on the stock. Guggenheim boosted their price objective on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC decreased their target price on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Susquehanna reaffirmed a “positive” rating and set a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.95.

Insider Buying and Selling at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the completion of the transaction, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. The trade was a 8.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction 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. The trade was a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,542 shares of company stock worth $18,599,030 over the last quarter. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Up 0.8 %

Shares of NYSE:PSTG opened at $49.90 on Wednesday. The company has a 50-day moving average price of $51.47 and a 200 day moving average price of $56.95. 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, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The company has a market cap of $16.35 billion, a price-to-earnings ratio of 124.75, a PEG ratio of 6.54 and a beta of 1.10.

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

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.