Mutual of America Capital Management LLC Has $8.39 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Mutual of America Capital Management LLC cut its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,986 shares of the technology company’s stock after selling 7,976 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Pure Storage worth $8,389,000 as of its most recent SEC filing.

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

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares in the company, valued at $24,970,000. The trade was a 16.67 % 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 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,639 shares in the company, valued at $4,862,874.48. The trade was a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,542 shares of company stock worth $18,599,030 in the last 90 days. 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 twelve month low of $31.00 and a twelve month high of $70.41. The stock’s 50 day moving average price is $51.41 and its 200-day moving average price is $56.97. The company has a market capitalization of $16.23 billion, a PE ratio of 123.85, a PEG ratio of 6.54 and a beta of 1.10. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07.

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, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $756.59 million. On average, equities analysts anticipate that Pure Storage, Inc. will post 0.42 EPS for the current year.

Wall Street Analyst Weigh In

PSTG has been the subject of several research analyst reports. Piper Sandler lowered their price objective 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. Stifel Nicolaus lowered their price objective 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. Northland Securities reaffirmed a “market perform” rating and issued a $59.00 target price (down from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. UBS Group decreased their target price 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, Lake Street Capital decreased their target price 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.