State of Alaska Department of Revenue Purchases 2,435 Shares of Pure Storage, Inc. (NYSE:PSTG)

State of Alaska Department of Revenue lifted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,670 shares of the technology company’s stock after acquiring an additional 2,435 shares during the period. State of Alaska Department of Revenue’s holdings in Pure Storage were worth $1,792,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSTG. Norden Group LLC acquired a new position in Pure Storage during the 1st quarter valued at about $458,000. Maryland State Retirement & Pension System grew its stake in shares of Pure Storage by 5.4% in the 1st quarter. Maryland State Retirement & Pension System now owns 22,628 shares of the technology company’s stock valued at $1,188,000 after buying an additional 1,164 shares during the period. Private Advisor Group LLC raised its holdings in Pure Storage by 27.4% in the 1st quarter. Private Advisor Group LLC now owns 14,312 shares of the technology company’s stock valued at $744,000 after buying an additional 3,077 shares during the period. Tobam purchased a new stake in Pure Storage in the first quarter valued at approximately $168,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Pure Storage during the first quarter worth about $27,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Up 1.8 %

Shares of PSTG opened at $50.95 on Friday. 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 twelve month low of $31.00 and a twelve month high of $70.41. The stock has a market capitalization of $16.70 billion, a P/E ratio of 127.38, a PEG ratio of 7.85 and a beta of 1.10. The firm has a fifty day simple moving average of $51.61 and a two-hundred day simple moving average of $56.94.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. On average, research analysts anticipate that Pure Storage, Inc. will post 0.43 EPS for the current year.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of the business’s 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 completion of the transaction, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of the firm’s 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 sale, the insider now directly owns 700,000 shares in the company, valued at approximately $43,232,000. 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 554,542 shares of company stock valued at $30,014,030 in the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Guggenheim upped their target price on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Piper Sandler reduced their price target on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Lake Street Capital lowered their target price on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Needham & Company LLC cut their target price on Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Wedbush restated an “outperform” rating and set a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. One equities 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.05.

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.