Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Assenagon Asset Management S.A.

Posted by Defense World Staff on Jul 1st, 2023

Assenagon Asset Management S.A. decreased its position in Pure Storage, Inc. (NYSE:PSTG – Free Report) by 45.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 629,395 shares of the technology company’s stock after selling 530,585 shares during the quarter. Assenagon Asset Management S.A. owned 0.20% of Pure Storage worth $16,056,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Pure Storage by 121.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,660 shares of the technology company’s stock worth $765,000 after buying an additional 11,891 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of Pure Storage during the first quarter worth approximately $233,000. MetLife Investment Management LLC acquired a new stake in shares of Pure Storage during the first quarter worth approximately $596,000. Synovus Financial Corp grew its position in shares of Pure Storage by 1.7% during the first quarter. Synovus Financial Corp now owns 43,894 shares of the technology company’s stock worth $1,547,000 after buying an additional 744 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Pure Storage by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,035,914 shares of the technology company’s stock worth $36,582,000 after buying an additional 6,756 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Pure Storage Stock Performance

PSTG stock opened at $36.81 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.64 and a current ratio of 1.69. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 1,227.41, a PEG ratio of 8.63 and a beta of 1.21. Pure Storage, Inc. has a 1 year low of $22.14 and a 1 year high of $38.36. The stock’s fifty day moving average is $29.32 and its two-hundred day moving average is $27.72.

Pure Storage (NYSE:PSTG – Free Report) last posted its earnings results on Wednesday, May 31st. The technology company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.04. The company had revenue of $589.31 million for the quarter, compared to analysts’ expectations of $560.83 million. Pure Storage had a return on equity of 9.03% and a net margin of 0.63%. On average, research analysts predict that Pure Storage, Inc. will post 0.28 EPS for the current year.

Insider Activity at Pure Storage

In related news, CAO Mona Chu sold 7,567 shares of Pure Storage stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $37.51, for a total transaction of $283,838.17. Following the sale, the chief accounting officer now directly owns 155,424 shares in the company, valued at $5,829,954.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Mona Chu sold 7,567 shares of Pure Storage stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $37.51, for a total transaction of $283,838.17. Following the sale, the chief accounting officer now directly owns 155,424 shares in the company, valued at $5,829,954.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 40,668 shares of Pure Storage stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $36.44, for a total transaction of $1,481,941.92. Following the sale, the executive now owns 160,119 shares in the company, valued at $5,834,736.36. The disclosure for this sale can be found here. Insiders have sold a total of 160,646 shares of company stock worth $5,651,667 over the last ninety days. 6.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PSTG shares. Credit Suisse Group raised their price target on shares of Pure Storage from $40.00 to $42.00 in a research report on Friday, June 2nd. Wedbush raised their price target on shares of Pure Storage from $34.00 to $39.00 in a research report on Thursday, June 1st. Morgan Stanley lifted their price objective on shares of Pure Storage from $34.00 to $42.00 in a report on Friday, June 16th. Stifel Nicolaus lifted their price objective on shares of Pure Storage from $32.00 to $35.00 in a report on Thursday, June 1st. Finally, Lake Street Capital lifted their price objective on shares of Pure Storage from $34.00 to $40.00 in a report on Friday, June 16th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and a consensus price target of $39.89.

About Pure Storage

(Free Report)

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.