Prospera Financial Services Inc Buys 925 Shares of Pure Storage, Inc. (NYSE:PSTG)

Prospera Financial Services Inc increased its stake in Pure Storage, Inc. (NYSE:PSTG) by 22.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,960 shares of the technology company’s stock after purchasing an additional 925 shares during the quarter. Prospera Financial Services Inc’s holdings in Pure Storage were worth $249,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Pure Storage by 61.2% during the 2nd 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 period. Larson Financial Group LLC boosted its holdings in Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after acquiring an additional 306 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Pure Storage in the third quarter valued at about $31,000. FSC Wealth Advisors LLC bought a new position in shares of Pure Storage in the second quarter worth about $33,000. Finally, City State Bank lifted its position in shares of Pure Storage by 175.0% during the 2nd quarter. City State Bank now owns 550 shares of the technology company’s stock worth $35,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Performance

Pure Storage stock opened at $53.75 on Tuesday. 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. The stock has a fifty day moving average price of $51.79 and a two-hundred day moving average price of $56.88. The firm has a market capitalization of $17.61 billion, a P/E ratio of 134.38, a P/E/G ratio of 7.01 and a beta of 1.10.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results 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 firm 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%. As a group, analysts anticipate that Pure Storage, Inc. will post 0.42 EPS for the current fiscal year.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the sale, the insider now directly owns 300,000 shares in the company, valued at approximately $17,196,000. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was 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 owns 96,639 shares in the company, valued at approximately $4,862,874.48. This trade represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 354,542 shares of company stock worth $18,599,030. Insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PSTG shares. Guggenheim raised their target price on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Needham & Company LLC dropped 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 report on Thursday, August 29th. Oppenheimer began coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 target price for the company. Susquehanna restated a “positive” rating and issued a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. Finally, Piper Sandler cut their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and a consensus price target of $67.95.

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.