Mutual of America Capital Management LLC Has $12.02 Million Stock Position in Pure Storage, Inc. $PSTG

Mutual of America Capital Management LLC lowered its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 7.2% during the third quarter, Holdings Channel reports. The fund owned 143,393 shares of the technology company’s stock after selling 11,162 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Pure Storage were worth $12,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new stake in Pure Storage during the 1st quarter valued at $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Pure Storage by 129.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the technology company’s stock valued at $387,000 after buying an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Pure Storage by 109.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock valued at $50,377,000 after buying an additional 595,307 shares during the period. Empowered Funds LLC lifted its stake in Pure Storage by 4.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock worth $212,000 after acquiring an additional 194 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Pure Storage by 15.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 31,082 shares of the technology company’s stock worth $1,769,000 after acquiring an additional 4,162 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $71.31, for a total transaction of $7,131,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the transaction, the insider directly owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. This represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 207,178 shares of company stock valued at $16,771,931 over the last 90 days. 5.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PSTG. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Pure Storage in a report on Wednesday, December 3rd. Northland Securities set a $77.00 price objective on shares of Pure Storage in a research note on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Pure Storage in a research note on Thursday. Susquehanna set a $105.00 price target on shares of Pure Storage in a report on Wednesday, December 3rd. Finally, Lake Street Capital increased their price objective on Pure Storage from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and an average target price of $95.26.

Pure Storage Trading Up 4.3%

Pure Storage stock opened at $72.72 on Tuesday. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $100.59. The firm’s fifty day simple moving average is $73.10 and its 200-day simple moving average is $75.40. The company has a market capitalization of $24.01 billion, a P/E ratio of 191.36, a P/E/G ratio of 7.74 and a beta of 1.26.

Pure Storage (NYSE:PSTG) last posted its earnings results on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The firm had revenue of $763.77 million for the quarter. On average, equities research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

About Pure Storage

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.