Mount Yale Investment Advisors LLC Makes New $910,000 Investment in Pure Storage, Inc. (NYSE:PSTG)

Mount Yale Investment Advisors LLC bought a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,180 shares of the technology company’s stock, valued at approximately $910,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Banque Cantonale Vaudoise purchased a new stake in Pure Storage in the 1st quarter valued at about $25,000. Fidelis Capital Partners LLC bought a new position in Pure Storage in the first quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV grew its stake 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 worth $27,000 after purchasing an additional 161 shares in the last quarter. Larson Financial Group LLC increased its holdings in Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after purchasing an additional 306 shares during the period. Finally, Principal Securities Inc. bought a new stake in Pure Storage during the 4th quarter valued at $31,000. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley downgraded 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. Susquehanna reiterated a “positive” rating and set a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. Northland Capmk lowered shares of Pure Storage from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 30th. Raymond James lowered their price target on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, Piper Sandler cut their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.95.

Pure Storage Stock Up 1.9 %

PSTG stock opened at $50.72 on Monday. The stock has a market capitalization of $16.50 billion, a PE ratio of 181.14, a price-to-earnings-growth ratio of 7.69 and a beta of 1.11. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $55.66 and a 200 day moving average of $57.02.

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

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 9,881 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $59.32, for a total value of $586,140.92. Following the transaction, the executive now directly owns 115,601 shares of the company’s stock, valued at $6,857,451.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pure Storage news, CRO Dan Fitzsimons sold 9,881 shares of Pure Storage stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $59.32, for a total transaction of $586,140.92. Following the completion of the sale, the executive now directly owns 115,601 shares in the company, valued at approximately $6,857,451.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO P. Kevan Krysler sold 14,296 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.79, for a total transaction of $911,941.84. Following the completion of the sale, the chief financial officer now owns 518,623 shares in the company, valued at approximately $33,082,961.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 324,177 shares of company stock valued at $18,863,083. 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.