KBC Group NV Purchases 3,552 Shares of Pure Storage, Inc. (NYSE:PSTG)

KBC Group NV grew its position in Pure Storage, Inc. (NYSE:PSTG) by 9.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 39,277 shares of the technology company’s stock after acquiring an additional 3,552 shares during the period. KBC Group NV’s holdings in Pure Storage were worth $1,974,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. ProShare Advisors LLC bought a new position in Pure Storage during the 1st quarter worth $860,000. Vanguard Group Inc. raised its position in Pure Storage by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock worth $1,652,735,000 after purchasing an additional 495,183 shares during the last quarter. Covestor Ltd raised its position in Pure Storage by 277.0% during the 1st quarter. Covestor Ltd now owns 1,489 shares of the technology company’s stock worth $77,000 after purchasing an additional 1,094 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in Pure Storage during the 1st quarter worth $315,000. Finally, American International Group Inc. raised its position in Pure Storage by 9,131.0% during the 1st quarter. American International Group Inc. now owns 394,996 shares of the technology company’s stock worth $20,536,000 after purchasing an additional 390,717 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 300,000 shares in the company, valued at $17,196,000. The trade was a 25.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mona Chu sold 20,647 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $51.50, for a total value of $1,063,320.50. Following the completion of the transaction, the chief accounting officer now owns 75,992 shares in the company, valued at $3,913,588. The trade was a 21.37 % 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 worth $18,599,030. Insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Guggenheim raised their target price on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Wedbush reissued an “outperform” rating and issued a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. TD Cowen lowered their price objective on Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. UBS Group lowered their price objective on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Finally, Citigroup lowered their price objective on Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.15.

Pure Storage Price Performance

PSTG stock opened at $49.54 on Tuesday. The company has a market capitalization of $16.23 billion, a P/E ratio of 123.85, a price-to-earnings-growth 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, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The business has a 50-day simple moving average of $51.41 and a two-hundred day simple moving average of $56.97.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) 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 return on equity of 17.41% and a net margin of 4.53%. Research analysts expect that Pure Storage, Inc. will post 0.42 EPS for the current fiscal 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.