11,150 Shares in Pure Storage, Inc. (NYSE:PSTG) Bought by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,150 shares of the technology company’s stock, valued at approximately $721,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in Pure Storage during the first quarter worth $25,000. Fidelis Capital Partners LLC acquired a new position in Pure Storage during the first quarter worth $27,000. Massmutual Trust Co. FSB ADV increased its position in Pure Storage by 61.2% during the second 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. Larson Financial Group LLC increased its position in Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after buying an additional 306 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in Pure Storage during the second quarter worth $33,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $63.79, for a total transaction of $911,941.84. Following the completion of the transaction, the chief financial officer now owns 518,623 shares in the company, valued at $33,082,961.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total value of $6,176,000.00. Following the completion of the transaction, the insider now owns 700,000 shares in the company, valued at $43,232,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO P. Kevan Krysler sold 14,296 shares of Pure Storage stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $63.79, for a total transaction of $911,941.84. Following the completion of the transaction, the chief financial officer now owns 518,623 shares of the company’s stock, valued at approximately $33,082,961.17. The disclosure for this sale can be found here. Insiders sold a total of 458,072 shares of company stock worth $25,565,792 over the last quarter. Company insiders own 6.00% of the company’s stock.

Pure Storage Stock Down 2.9 %

Shares of PSTG opened at $48.77 on Wednesday. The stock has a market cap of $15.86 billion, a price-to-earnings ratio of 174.18, a P/E/G ratio of 7.81 and a beta of 1.11. The company has a quick ratio of 1.96, a current ratio of 1.99 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 company has a 50-day moving average price of $54.01 and a two-hundred day moving average price of $56.87.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 4.53% and a return on equity of 17.41%. Equities analysts predict that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PSTG. Northland Securities reissued a “market perform” rating and set a $59.00 target price (down from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Guggenheim reissued a “buy” rating and set a $72.00 target price on shares of Pure Storage in a research report on Tuesday, June 25th. TD Cowen lowered their price target on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Citigroup lowered their price target on Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Stifel Nicolaus lowered their price target on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.95.

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.