Sanctuary Advisors LLC Invests $988,000 in Pure Storage, Inc. (NYSE:PSTG)

Sanctuary Advisors LLC acquired a new position in Pure Storage, Inc. (NYSE:PSTG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,392 shares of the technology company’s stock, valued at approximately $988,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSTG. Massmutual Trust Co. FSB ADV boosted its holdings in Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after acquiring an additional 161 shares during the period. Harbour Investments Inc. increased its holdings in Pure Storage by 3.0% during 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. increased its holdings in shares of Pure Storage by 4.8% during the second quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company’s stock valued at $292,000 after acquiring an additional 208 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Pure Storage by 3.2% in the 2nd quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company’s stock worth $462,000 after purchasing an additional 223 shares during the last quarter. Finally, Hanseatic Management Services Inc. boosted its stake in Pure Storage by 2.4% in the 2nd quarter. Hanseatic Management Services Inc. now owns 12,579 shares of the technology company’s stock worth $808,000 after purchasing an additional 296 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on PSTG shares. Evercore ISI reduced their price objective on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus decreased their price objective on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, August 29th. Lake Street Capital cut their target price on Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Guggenheim restated a “buy” rating and issued a $72.00 price target on shares of Pure Storage in a research note on Tuesday, June 25th. Finally, Northland Securities reaffirmed 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.95.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 900,000 shares in the company, valued at approximately $53,550,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Pure Storage news, CRO Dan Fitzsimons sold 9,881 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $59.32, for a total value of $586,140.92. Following the completion of the sale, the executive now owns 115,601 shares in the company, valued at approximately $6,857,451.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $59.50, for a total value of $5,950,000.00. Following the completion of the transaction, the insider now owns 900,000 shares in the company, valued at $53,550,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 564,423 shares of company stock valued at $30,818,171 over the last quarter. 6.00% of the stock is currently owned by company insiders.

Pure Storage Stock Up 0.2 %

Shares of PSTG stock opened at $53.19 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. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The stock has a market cap of $17.43 billion, a P/E ratio of 132.98, a P/E/G ratio of 8.33 and a beta of 1.11. The company has a 50 day simple moving average of $53.12 and a two-hundred day simple moving average of $56.80.

Pure Storage (NYSE:PSTG) last posted 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 firm had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. On average, research analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

About Pure Storage

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.