Qsemble Capital Management LP Decreases Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Qsemble Capital Management LP reduced its position in Pure Storage, Inc. (NYSE:PSTG) by 24.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,050 shares of the technology company’s stock after selling 3,246 shares during the quarter. Qsemble Capital Management LP’s holdings in Pure Storage were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its position in Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after buying an additional 161 shares during the last quarter. Larson Financial Group LLC increased its position in Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after buying an additional 306 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in Pure Storage in the third quarter worth $31,000. FSC Wealth Advisors LLC purchased a new position in shares of Pure Storage in the second quarter valued at $33,000. Finally, City State Bank grew its position in shares of Pure Storage by 175.0% in the second quarter. City State Bank now owns 550 shares of the technology company’s stock valued at $35,000 after purchasing an additional 350 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the sale, the insider now owns 300,000 shares of the company’s stock, valued at approximately $17,196,000. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mona Chu sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. This trade represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 354,542 shares of company stock valued at $18,599,030. Insiders own 6.00% of the company’s stock.

Pure Storage Trading Down 3.1 %

Shares of PSTG stock opened at $52.93 on Thursday. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $51.95 and a two-hundred day moving average price of $56.86. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The firm has a market cap of $17.34 billion, a P/E ratio of 132.33, a price-to-earnings-growth ratio of 7.30 and a beta of 1.10.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $756.59 million. Equities analysts anticipate that Pure Storage, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PSTG. Lake Street Capital reduced their price target on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Stifel Nicolaus reduced their price target 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. Raymond James reduced their price target on Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Piper Sandler reduced their price target on Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, William Blair reiterated an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.95.

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.