Elo Mutual Pension Insurance Co Invests $1.78 Million in Pure Storage, Inc. (NYSE:PSTG)

Elo Mutual Pension Insurance Co acquired a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 27,767 shares of the technology company’s stock, valued at approximately $1,783,000.

A number of other large investors have also bought and sold shares of the business. Massmutual Trust Co. FSB ADV grew its stake 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 acquiring an additional 161 shares in the last quarter. Larson Financial Group LLC raised its holdings in Pure Storage by 242.9% in the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after acquiring an additional 306 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Pure Storage during the first quarter worth approximately $25,000. FSC Wealth Advisors LLC acquired a new stake in shares of Pure Storage during the second quarter worth $33,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Pure Storage in the 1st quarter worth about $27,000. 83.42% of the stock is owned by institutional investors.

Insider Transactions at Pure Storage

In related news, CFO P. Kevan Krysler sold 14,296 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.79, for a total value of $911,941.84. Following the completion of the transaction, the chief financial officer now owns 518,623 shares in the company, valued at approximately $33,082,961.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 518,623 shares in the company, valued at $33,082,961.17. The sale was disclosed in a legal 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 on 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 owns 900,000 shares of the company’s stock, valued at $53,550,000. The disclosure for this sale can be found here. Insiders have sold a total of 324,177 shares of company stock valued at $18,863,083 in the last 90 days. Insiders own 6.00% of the company’s stock.

Pure Storage Trading Up 1.0 %

Shares of PSTG opened at $49.76 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 177.71, a PEG ratio of 7.49 and a beta of 1.11. The company has a 50-day moving average of $55.94 and a 200 day moving average of $57.04. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several recent analyst reports. Citigroup decreased their target price on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. UBS Group cut their target price on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on shares of Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Wedbush reaffirmed an “outperform” rating and set a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Finally, Wells Fargo & Company lifted their price target on shares of Pure Storage from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and a consensus price target 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.