Mutual of America Capital Management LLC Reduces Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Mutual of America Capital Management LLC decreased its position in Pure Storage, Inc. (NYSE:PSTG) by 4.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 166,986 shares of the technology company’s stock after selling 7,976 shares during the period. Mutual of America Capital Management LLC’s holdings in Pure Storage were worth $8,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Sycomore Asset Management bought a new stake in Pure Storage during the 2nd quarter valued at $2,259,000. MinichMacGregor Wealth Management LLC bought a new stake in Pure Storage during the 3rd quarter valued at $6,890,000. Heritage Wealth Management Inc. bought a new stake in Pure Storage during the 2nd quarter valued at $721,000. Cetera Investment Advisers raised its holdings in Pure Storage by 284.9% during the 1st quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock valued at $2,901,000 after acquiring an additional 41,305 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Pure Storage by 182.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 216,808 shares of the technology company’s stock valued at $11,262,000 after acquiring an additional 140,071 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In related news, CAO Mona Chu sold 20,647 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the completion of the sale, the chief accounting officer now owns 75,992 shares of the company’s stock, valued at $3,913,588. This trade represents a 21.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction that occurred 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 sale, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. This represents a 8.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 354,542 shares of company stock valued at $18,599,030 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $49.54 on Tuesday. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The company has a 50 day simple moving average of $51.41 and a two-hundred day simple moving average of $56.97. The company has a market capitalization of $16.23 billion, a price-to-earnings ratio of 123.85, a P/E/G ratio of 6.54 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PSTG shares. Raymond James lowered their target price on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Citigroup decreased their price target on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Northland Securities reaffirmed a “market perform” rating and issued a $59.00 price target (down previously from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Guggenheim upped their price target on shares of Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Needham & Company LLC decreased their price target on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.15.

Pure Storage Profile

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.