Toronto Dominion Bank Takes Position in Pure Storage, Inc. (NYSE:PSTG)

Toronto Dominion Bank purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 30,961 shares of the technology company’s stock, valued at approximately $1,988,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PSTG. Massmutual Trust Co. FSB ADV boosted its stake 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 worth $27,000 after buying an additional 161 shares during the last quarter. Harbour Investments Inc. grew its stake 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. grew its stake 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 increased its position in shares of Pure Storage by 3.2% during 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 last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Pure Storage by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 54,073 shares of the technology company’s stock worth $1,928,000 after purchasing an additional 242 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was 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 $24,970,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred 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 transaction, the insider now directly owns 500,000 shares of the company’s stock, valued at $24,970,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO P. Kevan Krysler sold 14,296 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 458,072 shares of company stock worth $25,565,792. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

NYSE:PSTG opened at $49.44 on Monday. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The stock has a market cap of $16.20 billion, a P/E ratio of 176.57, a PEG ratio of 7.81 and a beta of 1.11. The business’s 50-day moving average price is $54.48 and its two-hundred day moving average price is $56.89.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.10. The business had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. As a group, equities analysts predict that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on PSTG shares. Guggenheim reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Pure Storage in a research report on Tuesday, June 25th. Stifel Nicolaus dropped their price objective on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. Morgan Stanley lowered Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective for the company. in a report on Wednesday, June 12th. Citigroup lowered their target price on Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and issued a $80.00 price objective on shares of Pure Storage in a report on Monday, August 26th. 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $66.95.

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.