Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 41.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 215,492 shares of the technology company’s stock after purchasing an additional 62,830 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Pure Storage worth $13,837,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSTG. Banque Cantonale Vaudoise purchased a new position in Pure Storage during the 1st quarter worth approximately $25,000. Fidelis Capital Partners LLC acquired a new stake in shares of Pure Storage in the first quarter worth $27,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Pure Storage by 61.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after purchasing an additional 161 shares during the last quarter. Larson Financial Group LLC lifted its position in Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after purchasing an additional 306 shares during the period. Finally, Principal Securities Inc. purchased a new stake in Pure Storage in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PSTG. Lake Street Capital decreased their price objective on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, August 29th. KeyCorp raised their price objective on shares of Pure Storage from $64.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Guggenheim reaffirmed a “buy” rating and set a $72.00 target price on shares of Pure Storage in a report on Tuesday, June 25th. Northland Securities reissued a “market perform” rating and set a $59.00 price target (down from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Finally, StockNews.com raised shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.95.

Insider Activity

In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.79, for a total transaction of $911,941.84. Following the transaction, the chief financial officer now owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO P. Kevan Krysler sold 14,296 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $63.79, for a total value of $911,941.84. Following the completion of the sale, the chief financial officer now owns 518,623 shares of the company’s stock, valued at approximately $33,082,961.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage 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 sale, the insider now directly owns 900,000 shares in the company, valued at approximately $53,550,000. The disclosure for this sale can be found here. Insiders sold 324,177 shares of company stock worth $18,863,083 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Stock Up 1.4 %

PSTG stock opened at $48.92 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $57.26 and a two-hundred day moving average of $56.99. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The company has a market cap of $15.91 billion, a price-to-earnings ratio of 174.71, a PEG ratio of 7.40 and a beta of 1.11.

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.