MBM Wealth Consultants LLC Increases Position in Pure Storage, Inc. (NYSE:PSTG)

MBM Wealth Consultants LLC raised its holdings in Pure Storage, Inc. (NYSE:PSTG) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,695 shares of the technology company’s stock after acquiring an additional 899 shares during the quarter. MBM Wealth Consultants LLC’s holdings in Pure Storage were worth $537,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV bought a new stake in shares of Pure Storage during the fourth quarter valued at approximately $192,000. Prudential PLC bought a new stake in Pure Storage during the 4th quarter valued at $413,000. Connectus Wealth LLC purchased a new stake in shares of Pure Storage in the 4th quarter worth $514,000. Analog Century Management LP grew its position in shares of Pure Storage by 55.7% during the 4th quarter. Analog Century Management LP now owns 304,166 shares of the technology company’s stock worth $10,847,000 after buying an additional 108,807 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in shares of Pure Storage by 835.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,078,454 shares of the technology company’s stock valued at $38,458,000 after buying an additional 963,140 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $59.50, for a total value of $5,950,000.00. Following the completion of the transaction, the insider now owns 900,000 shares of the company’s stock, valued at $53,550,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the completion of the sale, the insider now directly owns 900,000 shares of the company’s stock, valued at $53,550,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief accounting officer now owns 96,639 shares in the company, valued at approximately $4,862,874.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 443,776 shares of company stock valued at $24,653,851 over the last quarter. 6.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of research reports. Northland Securities reaffirmed a “market perform” rating and issued a $59.00 price objective (down from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. Needham & Company LLC dropped their price objective on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. TD Cowen cut 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. Stifel Nicolaus lowered their target price on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, August 29th. Finally, Piper Sandler cut their price target on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.95.

Pure Storage Trading Up 0.2 %

Shares of Pure Storage stock opened at $51.32 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The stock’s 50 day simple moving average is $53.55 and its 200-day simple moving average is $56.86. The stock has a market cap of $16.82 billion, a P/E ratio of 183.29, a P/E/G ratio of 7.83 and a beta of 1.11. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41.

Pure Storage (NYSE:PSTG) last announced 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 the consensus estimate of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. Analysts predict that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

About Pure Storage

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.