Benjamin F. Edwards & Company Inc. Grows Stake in Pure Storage, Inc. (NYSE:PSTG)

Benjamin F. Edwards & Company Inc. grew its holdings in Pure Storage, Inc. (NYSE:PSTG) by 250.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,022 shares of the technology company’s stock after buying an additional 730 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Pure Storage were worth $66,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PSTG. Dimensional Fund Advisors LP lifted its holdings in Pure Storage by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock worth $41,666,000 after buying an additional 28,086 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Pure Storage by 105.5% in the 4th quarter. Corient Private Wealth LLC now owns 13,215 shares of the technology company’s stock valued at $471,000 after purchasing an additional 6,783 shares during the period. Franklin Resources Inc. lifted its stake in shares of 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. TD Asset Management Inc purchased a new position in shares of Pure Storage in the 4th quarter valued at approximately $5,121,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Pure Storage by 37.8% in the 4th quarter. Allianz Asset Management GmbH now owns 287,231 shares of the technology company’s stock valued at $10,243,000 after purchasing an additional 78,788 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the transaction, the executive now directly 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 is available through the SEC website. In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the transaction, the executive now directly 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 is available through the SEC website. Also, CFO P. Kevan Krysler sold 14,296 shares of Pure Storage stock in a transaction 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 transaction, the chief financial officer now owns 518,623 shares in the company, valued at $33,082,961.17. The disclosure for this sale can be found here. Insiders sold 458,072 shares of company stock valued at $25,565,792 over the last 90 days. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Guggenheim restated a “buy” rating and issued a $72.00 target price on shares of Pure Storage in a research note on Tuesday, June 25th. Needham & Company LLC lowered their target price on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Northland Securities restated a “market perform” rating and issued a $59.00 target price (down previously from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. UBS Group lowered their price objective on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Finally, Piper Sandler lowered their price objective on Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.95.

Pure Storage Stock Performance

Shares of PSTG opened at $49.44 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. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. The firm has a market capitalization of $16.08 billion, a P/E ratio of 180.18, a PEG ratio of 7.87 and a beta of 1.11. The business has a fifty day moving average of $54.67 and a 200 day moving average of $56.84.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. The company had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. As a group, sell-side analysts anticipate that Pure Storage, Inc. will post 0.43 EPS for the current year.

Pure Storage Company 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.