Pacer Advisors Inc. Grows Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Pacer Advisors Inc. lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,858 shares of the technology company’s stock after acquiring an additional 2,413 shares during the quarter. Pacer Advisors Inc.’s holdings in Pure Storage were worth $3,843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in shares of Pure Storage in the first quarter valued at about $25,000. Fidelis Capital Partners LLC purchased a new position in Pure Storage during the 1st quarter valued at about $27,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after purchasing an additional 161 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of 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 during the period. Finally, Principal Securities Inc. bought a new position in shares of Pure Storage during the fourth quarter valued at approximately $31,000. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the transaction, the executive now directly owns 94,446 shares of the company’s stock, valued at $4,785,578.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now owns 500,000 shares in the company, valued at approximately $24,970,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 433,072 shares of company stock worth $24,307,792. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wedbush reissued an “outperform” rating and issued a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. Northland Capmk lowered Pure Storage from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 30th. Barclays raised their price objective on Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. KeyCorp boosted their target price on shares of Pure Storage from $64.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.95.

Pure Storage Price Performance

NYSE PSTG opened at $49.81 on Wednesday. The stock’s fifty day moving average price is $55.06 and its 200 day moving average price is $56.93. 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. The company has a market cap of $16.20 billion, a price-to-earnings ratio of 177.89, a PEG ratio of 7.69 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.10. The firm had revenue of $763.77 million during the quarter, compared to analysts’ expectations 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 research analysts forecast that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

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.