Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Creative Planning

Creative Planning boosted its position in Pure Storage, Inc. (NYSE:PSTG) by 39.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,399 shares of the technology company’s stock after acquiring an additional 7,780 shares during the quarter. Creative Planning’s holdings in Pure Storage were worth $1,377,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. State of Michigan Retirement System purchased a new stake in Pure Storage during the 1st quarter worth about $3,790,000. State of Alaska Department of Revenue acquired a new position in Pure Storage in the first quarter valued at approximately $1,675,000. Norden Group LLC purchased a new position in Pure Storage in the first quarter valued at approximately $458,000. Maryland State Retirement & Pension System raised its holdings in Pure Storage by 5.4% during the first quarter. Maryland State Retirement & Pension System now owns 22,628 shares of the technology company’s stock worth $1,188,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in Pure Storage by 27.4% during the first quarter. Private Advisor Group LLC now owns 14,312 shares of the technology company’s stock worth $744,000 after purchasing an additional 3,077 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of PSTG opened at $53.40 on Thursday. The firm has a market capitalization of $17.50 billion, a PE ratio of 133.50, a P/E/G ratio of 8.47 and a beta of 1.11. The stock’s 50 day moving average is $52.04 and its two-hundred day moving average is $56.97. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07.

Pure Storage (NYSE:PSTG) last posted its quarterly 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 firm had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. Research analysts anticipate that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the sale, the insider now owns 300,000 shares in the company, valued at $17,196,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Pure Storage news, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was 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 owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the transaction, the insider now directly owns 300,000 shares of the company’s stock, valued at $17,196,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 554,542 shares of company stock valued at $30,014,030 in the last ninety days. 6.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSTG. Piper Sandler dropped their target price on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Raymond James cut their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. TD Cowen decreased their target price on Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Citigroup cut their price target on Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Susquehanna reiterated a “positive” rating and issued a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.05.

Pure Storage 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.