Future Financial Wealth Managment LLC Purchases Shares of 1,400 Pure Storage, Inc. (NYSE:PSTG)

Future Financial Wealth Managment LLC acquired a new position in Pure Storage, Inc. (NYSE:PSTG) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,400 shares of the technology company’s stock, valued at approximately $73,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Naples Money Management LLC bought a new stake in shares of Pure Storage during the fourth quarter valued at approximately $25,000. Banque Cantonale Vaudoise bought a new stake in Pure Storage in the 1st quarter valued at $25,000. Principal Securities Inc. purchased a new stake in Pure Storage in the 4th quarter worth $31,000. Allspring Global Investments Holdings LLC bought a new position in shares of Pure Storage during the 4th quarter valued at about $45,000. Finally, Rise Advisors LLC purchased a new position in shares of Pure Storage during the first quarter valued at about $48,000. 83.42% of the stock is currently owned by institutional investors.

Insider Transactions at Pure Storage

In related news, Director Mallun Yen sold 4,818 shares of Pure Storage stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $64.78, for a total value of $312,110.04. Following the completion of the sale, the director now directly owns 35,498 shares in the company, valued at $2,299,560.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mallun Yen sold 4,818 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $64.78, for a total transaction of $312,110.04. Following the transaction, the director now directly owns 35,498 shares in the company, valued at $2,299,560.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Scott Dietzen sold 147,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $53.49, for a total transaction of $7,863,030.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $5,349,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 291,399 shares of company stock valued at $15,578,814. 6.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PSTG shares. KeyCorp increased their price target on Pure Storage from $64.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. TD Cowen increased their target price on Pure Storage from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Morgan Stanley cut shares of Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 price target on the stock. in a research report on Wednesday, June 12th. Northland Capmk lowered shares of Pure Storage from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 30th. Finally, Barclays boosted their target price on shares of Pure Storage from $51.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.95.

Pure Storage Price Performance

Pure Storage stock opened at $62.71 on Thursday. The stock has a market cap of $20.40 billion, a price-to-earnings ratio of 223.96, a price-to-earnings-growth ratio of 6.34 and a beta of 1.06. The firm has a 50-day moving average of $58.93 and a two-hundred day moving average of $49.36. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.96.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, May 29th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $693.48 million during the quarter, compared to analyst estimates of $681.37 million. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. On average, research analysts forecast that Pure Storage, Inc. will post 0.47 earnings per share for the current year.

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.