Pure Financial Advisors LLC Cuts Position in Pure Storage, Inc. (NYSE:PSTG)

Pure Financial Advisors LLC decreased its holdings in Pure Storage, Inc. (NYSE:PSTG) by 8.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,906 shares of the technology company’s stock after selling 2,284 shares during the quarter. Pure Financial Advisors LLC’s holdings in Pure Storage were worth $1,201,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PSTG. Sycomore Asset Management purchased a new stake in Pure Storage during the 2nd quarter worth approximately $2,259,000. State of Alaska Department of Revenue purchased a new position in Pure Storage in the first quarter worth approximately $1,675,000. Texas Permanent School Fund Corp purchased a new stake in Pure Storage in the 1st quarter valued at about $13,514,000. Heritage Wealth Management Inc. purchased a new stake in shares of Pure Storage in the 2nd quarter valued at approximately $721,000. Finally, Cetera Investment Advisers lifted its position in shares of Pure Storage by 284.9% during the first quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock worth $2,901,000 after purchasing an additional 41,305 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

PSTG has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. Susquehanna reissued a “positive” rating and set a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. Northland Securities reaffirmed a “market perform” rating and issued a $59.00 target price (down previously from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. TD Cowen reduced their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Lake Street Capital lowered their target price on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $68.05.

Pure Storage Stock Up 1.8 %

PSTG stock opened at $50.95 on Friday. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 127.38, a price-to-earnings-growth ratio of 7.85 and a beta of 1.10. The company has a fifty day moving average price of $51.61 and a 200 day moving average price of $56.94. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The business had revenue of $763.77 million during the quarter, compared to analysts’ expectations of $756.59 million. Sell-side analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total value of $6,176,000.00. Following the transaction, the insider now directly owns 700,000 shares in the company, valued at $43,232,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the completion of the transaction, the insider now directly owns 700,000 shares of the company’s stock, valued at $43,232,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the sale, the executive now directly owns 94,446 shares in the company, valued at $4,785,578.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 554,542 shares of company stock valued at $30,014,030. 6.00% of the stock is owned by company insiders.

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.