6,195 Shares in Pure Storage, Inc. (NYSE:PSTG) Purchased by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD acquired a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 6,195 shares of the technology company’s stock, valued at approximately $221,000.

Other large investors have also bought and sold shares of the company. Naples Money Management LLC bought a new position in shares of Pure Storage in the 4th quarter worth about $25,000. Global Retirement Partners LLC bought a new position in shares of Pure Storage during the third quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Pure Storage during the fourth quarter valued at approximately $45,000. First Horizon Advisors Inc. boosted its position in shares of Pure Storage by 53.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,380 shares of the technology company’s stock worth $49,000 after purchasing an additional 480 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Pure Storage in the 4th quarter worth approximately $64,000. 83.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 29,283 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total value of $1,526,815.62. Following the sale, the executive now directly owns 138,105 shares in the company, valued at $7,200,794.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CRO Dan Fitzsimons sold 29,283 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total value of $1,526,815.62. Following the sale, the executive now owns 138,105 shares in the company, valued at $7,200,794.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Dietzen sold 147,000 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $53.49, for a total transaction of $7,863,030.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $5,349,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 286,581 shares of company stock worth $15,266,704. 6.50% of the stock is owned by insiders.

Pure Storage Price Performance

NYSE:PSTG traded up $0.56 during trading hours on Friday, hitting $52.78. 1,164,479 shares of the stock traded hands, compared to its average volume of 4,520,088. The company has a market cap of $17.15 billion, a price-to-earnings ratio of 309.96, a price-to-earnings-growth ratio of 6.58 and a beta of 1.15. Pure Storage, Inc. has a 1 year low of $22.14 and a 1 year high of $58.46. The stock has a 50 day moving average price of $50.66 and a 200 day moving average price of $41.63. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.17 by $0.10. The firm had revenue of $789.81 million for the quarter, compared to the consensus estimate of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.27 EPS. Sell-side analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSTG. Morgan Stanley lifted their price objective on Pure Storage from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. KeyCorp upped their price target on shares of Pure Storage from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. TD Cowen raised their price objective on shares of Pure Storage from $42.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Evercore ISI upped their target price on shares of Pure Storage from $41.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, Citigroup assumed coverage on shares of Pure Storage in a report on Friday, March 15th. They set a “buy” rating and a $65.00 price target on the stock. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and an average target price of $51.63.

Pure Storage Company 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.