ORG Wealth Partners LLC Takes Position in Pure Storage, Inc. (NYSE:PSTG)

ORG Wealth Partners LLC acquired a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 609 shares of the technology company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sycomore Asset Management bought a new stake in shares of Pure Storage in the 2nd quarter worth $2,259,000. State of Alaska Department of Revenue acquired a new stake in Pure Storage in the 1st quarter valued at about $1,675,000. Texas Permanent School Fund Corp bought a new position in shares of Pure Storage during the 1st quarter valued at about $13,514,000. Heritage Wealth Management Inc. acquired a new position in shares of Pure Storage in the 2nd quarter worth approximately $721,000. Finally, Cetera Investment Advisers raised its holdings in shares of Pure Storage by 284.9% in the 1st quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock worth $2,901,000 after purchasing an additional 41,305 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Down 2.4 %

Shares of Pure Storage stock opened at $52.59 on Wednesday. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 187.82, a P/E/G ratio of 8.33 and a beta of 1.11. The stock has a 50-day simple moving average of $53.09 and a 200-day simple moving average of $56.89. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week 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.

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

Insider Buying and Selling

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction dated 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 owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mona Chu sold 20,647 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $51.50, for a total value of $1,063,320.50. Following the completion of the transaction, the chief accounting officer now directly owns 75,992 shares in the company, valued at $3,913,588. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 564,423 shares of company stock worth $30,818,171. Corporate insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PSTG. TD Cowen decreased their price target on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Evercore ISI cut their target price on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Needham & Company LLC decreased their price target on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. UBS Group cut their price objective on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and an average 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.