nVerses Capital LLC Invests $50,000 in Pure Storage, Inc. (NYSE:PSTG)

nVerses Capital LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,000 shares of the technology company’s stock, valued at approximately $50,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its position in shares of Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after acquiring an additional 161 shares during the period. Larson Financial Group LLC raised its stake in Pure Storage by 242.9% in 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 in the last quarter. Banque Cantonale Vaudoise bought a new stake in Pure Storage in the 1st quarter valued at about $25,000. FSC Wealth Advisors LLC acquired a new position in shares of Pure Storage during the 2nd quarter worth approximately $33,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Pure Storage during the 1st quarter worth approximately $27,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup cut their price target on Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. TD Cowen decreased their price target on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. Raymond James reduced their price objective on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Finally, Needham & Company LLC cut their price target 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.05.

Insider Transactions at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the sale, the insider now owns 700,000 shares in the company, valued at $43,232,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 454,542 shares of company stock worth $24,282,030 over the last ninety days. 6.00% of the stock is owned by insiders.

Pure Storage Trading Up 0.9 %

Shares of NYSE PSTG opened at $57.56 on Tuesday. The firm has a 50 day moving average price of $53.15 and a two-hundred day moving average price of $56.99. The stock has a market cap of $18.72 billion, a P/E ratio of 205.57, a price-to-earnings-growth ratio of 8.45 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 debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data 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 business had revenue of $763.77 million during 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%. As a group, equities analysts forecast that Pure Storage, Inc. will post 0.43 EPS for the current 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.