Bank Pictet & Cie Europe AG Purchases 259 Shares of Pure Storage, Inc. (NYSE:PSTG)

Bank Pictet & Cie Europe AG increased its position in Pure Storage, Inc. (NYSE:PSTG) by 3.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,461 shares of the technology company’s stock after acquiring an additional 259 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Pure Storage were worth $375,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PSTG. Banque Cantonale Vaudoise acquired a new position in Pure Storage during the 1st quarter worth about $25,000. Fidelis Capital Partners LLC acquired a new position in shares of Pure Storage in the first quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV boosted its holdings in Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after acquiring an additional 161 shares during the last quarter. Larson Financial Group LLC increased its position in Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after purchasing an additional 306 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in Pure Storage during the 3rd quarter worth approximately $31,000. Institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler reduced their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Northland Securities reaffirmed a “market perform” rating and set a $59.00 price target (down previously from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Lake Street Capital lowered their price objective 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. Needham & Company LLC cut their target price on Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Guggenheim raised their target price on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.05.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $52.99 on Wednesday. The stock has a market cap of $17.36 billion, a price-to-earnings ratio of 132.48, a PEG ratio of 8.95 and a beta of 1.11. 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 fifty-two week low of $31.00 and a fifty-two week high of $70.41. The firm’s 50-day simple moving average is $53.02 and its 200 day simple moving average is $56.99.

Pure Storage (NYSE:PSTG) last posted 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 company had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. As a group, research analysts anticipate that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Pure Storage

In other news, CAO Mona Chu sold 25,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now owns 96,639 shares in the company, valued at $4,862,874.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CRO Dan Fitzsimons sold 8,895 shares of the company’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 value of $450,709.65. Following the completion of the transaction, the executive now directly owns 94,446 shares of the company’s stock, valued at $4,785,578.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the sale, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at $4,862,874.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 454,542 shares of company stock worth $24,282,030. Corporate insiders own 6.00% of the company’s stock.

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.