Pure Storage, Inc. $PSTG Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 29.7% during the third quarter, Holdings Channel reports. The firm owned 40,323 shares of the technology company’s stock after purchasing an additional 9,241 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Pure Storage were worth $3,544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Versant Capital Management Inc increased its stake in Pure Storage by 8.3% in the 3rd quarter. Versant Capital Management Inc now owns 1,598 shares of the technology company’s stock worth $134,000 after purchasing an additional 122 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Pure Storage by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,756 shares of the technology company’s stock worth $3,667,000 after acquiring an additional 152 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Pure Storage by 11.8% during the third quarter. Global Retirement Partners LLC now owns 1,530 shares of the technology company’s stock valued at $128,000 after acquiring an additional 162 shares during the period. Outfitters Financial LLC lifted its position in shares of Pure Storage by 1.3% in the 3rd quarter. Outfitters Financial LLC now owns 13,860 shares of the technology company’s stock valued at $1,162,000 after acquiring an additional 175 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its position in shares of Pure Storage by 11.8% in the 2nd quarter. Penserra Capital Management LLC now owns 1,666 shares of the technology company’s stock valued at $95,000 after acquiring an additional 176 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $71.31, for a total value of $7,131,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the transaction, the insider directly owned 215,091 shares of the company’s stock, valued at $14,441,209.74. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 207,178 shares of company stock worth $16,771,931. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of research reports. Tigress Financial set a $105.00 target price on shares of Pure Storage in a research note on Wednesday, December 3rd. JPMorgan Chase & Co. lowered their price target on Pure Storage from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, December 3rd. UBS Group lifted their price objective on Pure Storage from $55.00 to $60.00 and gave the stock a “sell” rating in a research note on Wednesday, December 3rd. Raymond James Financial lifted their price target on Pure Storage from $88.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Barclays increased their price objective on Pure Storage from $70.00 to $77.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 3rd. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $95.26.

Pure Storage Trading Up 0.4%

Shares of NYSE PSTG opened at $74.42 on Wednesday. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 197.88, a PEG ratio of 8.08 and a beta of 1.26. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $100.59. The business has a fifty day simple moving average of $72.94 and a 200 day simple moving average of $75.52.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. The company had revenue of $763.77 million during the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. On average, research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

About Pure Storage

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.