3,600 Shares in Pure Storage, Inc. (NYSE:PSTG) Purchased by PFG Investments LLC

PFG Investments LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,600 shares of the technology company’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after buying an additional 161 shares during the period. Harbour Investments Inc. boosted its holdings in Pure Storage by 3.0% in the 2nd quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock valued at $444,000 after purchasing an additional 202 shares during the period. Michael S. Ryan Inc. boosted its holdings in Pure Storage by 4.8% in the 2nd quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company’s stock valued at $292,000 after purchasing an additional 208 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in Pure Storage by 3.2% in the 2nd quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company’s stock valued at $462,000 after purchasing an additional 223 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Pure Storage by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 54,073 shares of the technology company’s stock valued at $1,928,000 after purchasing an additional 242 shares during the period. Institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

PSTG stock opened at $48.92 on Friday. The company has a 50 day simple moving average of $57.26 and a 200 day simple moving average of $56.99. The stock has a market cap of $15.91 billion, a price-to-earnings ratio of 174.71, a P/E/G ratio of 7.40 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. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of the company’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 transaction of $5,950,000.00. Following the completion of the transaction, the insider now directly owns 900,000 shares in the company, valued at approximately $53,550,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Pure Storage news, CRO Dan Fitzsimons sold 9,881 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $59.32, for a total value of $586,140.92. Following the completion of the transaction, the executive now directly owns 115,601 shares in the company, valued at approximately $6,857,451.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company’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 transaction 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. The disclosure for this sale can be found here. Insiders sold a total of 324,177 shares of company stock worth $18,863,083 in the last three months. 6.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. TD Cowen cut their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Wells Fargo & Company boosted their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. boosted their price objective on shares of Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Needham & Company LLC cut 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, Lake Street Capital dropped their target price on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One equities research 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. Based on data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $66.95.

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.