Sigma Planning Corp Acquires 1,847 Shares of Pure Storage, Inc. (NYSE:PSTG)

Sigma Planning Corp raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 35.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,031 shares of the technology company’s stock after buying an additional 1,847 shares during the period. Sigma Planning Corp’s holdings in Pure Storage were worth $353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSTG. Massmutual Trust Co. FSB ADV raised its position 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 acquiring an additional 161 shares in the last quarter. Nvwm LLC boosted its holdings in shares of Pure Storage by 23.3% during the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after buying an additional 194 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Pure Storage by 3.0% in the 2nd quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock worth $444,000 after buying an additional 202 shares during the period. Michael S. Ryan Inc. boosted its stake in Pure Storage by 4.8% during the second quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company’s stock worth $292,000 after acquiring an additional 208 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its holdings in Pure Storage by 3.2% in the second 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 period. 83.42% of the stock is owned by institutional investors.

Pure Storage Trading Down 3.3 %

Shares of NYSE:PSTG opened at $48.18 on Friday. The stock has a 50 day moving average of $51.36 and a 200 day moving average of $56.90. The company has a market cap of $15.79 billion, a PE ratio of 120.45, a price-to-earnings-growth ratio of 7.93 and a beta of 1.10. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. 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 (NYSE:PSTG) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 research analysts expect that Pure Storage, Inc. will post 0.42 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on PSTG. UBS Group dropped their price target on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Evercore ISI dropped their price objective 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. William Blair reiterated an “outperform” rating on shares of Pure Storage in a report on Thursday. Needham & Company LLC lowered their target price on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Citigroup reduced their price target on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.15.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares of the company’s stock, valued at approximately $24,970,000. The trade was a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the transaction, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at $4,862,874.48. The trade was a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 454,542 shares of company stock valued at $24,775,030 over the last 90 days. Company insiders own 6.00% of the company’s stock.

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.