Delap Wealth Advisory LLC Buys 1,246 Shares of Pure Storage, Inc. (NYSE:PSTG)

Delap Wealth Advisory LLC increased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 22.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,709 shares of the technology company’s stock after purchasing an additional 1,246 shares during the quarter. Delap Wealth Advisory LLC’s holdings in Pure Storage were worth $431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Pure Storage by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock valued at $41,666,000 after acquiring an additional 28,086 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Pure Storage during the 1st quarter valued at about $1,675,000. Texas Permanent School Fund Corp purchased a new stake in Pure Storage in the 1st quarter worth about $13,514,000. Cetera Investment Advisers lifted its stake in Pure Storage by 284.9% in 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 during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Pure Storage during the first quarter valued at approximately $709,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Up 1.9 %

NYSE:PSTG opened at $50.72 on Friday. The company’s 50-day simple moving average is $55.66 and its 200-day simple moving average is $57.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The stock has a market capitalization of $16.50 billion, a P/E ratio of 181.14, a P/E/G ratio of 7.69 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last posted 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 company had revenue of $763.77 million during the quarter, compared to analysts’ expectations of $756.59 million. On average, equities analysts anticipate that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Raymond James decreased their price target on Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Morgan Stanley lowered shares of Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 target price for the company. in a research note on Wednesday, June 12th. Lake Street Capital reduced their price target on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Needham & Company LLC decreased their price objective on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Pure Storage from $50.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average target price of $66.95.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the company’s 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 transaction, the insider now directly owns 900,000 shares of the company’s stock, valued at approximately $53,550,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO P. Kevan Krysler sold 14,296 shares of Pure Storage stock in a transaction on Friday, July 5th. The shares were 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 directly owns 518,623 shares in the company, valued at $33,082,961.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction 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 directly owns 900,000 shares in the company, valued at $53,550,000. The disclosure for this sale can be found here. Insiders sold 324,177 shares of company stock valued at $18,863,083 in the last quarter. 6.00% of the stock is currently owned by corporate 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.