Pure Storage, Inc. $PSTG Shares Acquired by Intrust Bank NA

Intrust Bank NA grew its stake in Pure Storage, Inc. (NYSE:PSTG) by 17.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,542 shares of the technology company’s stock after buying an additional 1,127 shares during the period. Intrust Bank NA’s holdings in Pure Storage were worth $434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. LPL Financial LLC lifted its position in Pure Storage by 22.6% during the 1st quarter. LPL Financial LLC now owns 118,368 shares of the technology company’s stock worth $5,240,000 after acquiring an additional 21,812 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Pure Storage by 13.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company’s stock worth $12,209,000 after purchasing an additional 32,611 shares during the last quarter. Crumly & Associates Inc. purchased a new position in shares of Pure Storage in the second quarter worth about $242,000. Michael S. Ryan Inc. acquired a new stake in shares of Pure Storage during the second quarter worth about $254,000. Finally, Brighton Jones LLC purchased a new stake in Pure Storage in the second quarter valued at approximately $359,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Cowen reiterated a “buy” rating on shares of Pure Storage in a research note on Thursday, August 28th. Wall Street Zen raised shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Raymond James Financial boosted their target price on shares of Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, UBS Group set a $110.00 price target on Pure Storage in a research report on Tuesday, October 21st. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.61.

Pure Storage Price Performance

PSTG opened at $82.21 on Wednesday. The firm has a fifty day moving average price of $89.40 and a 200 day moving average price of $68.98. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59. The stock has a market cap of $27.02 billion, a P/E ratio of 200.51, a P/E/G ratio of 8.99 and a beta of 1.24.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. The company had revenue of $763.77 million for the quarter. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. Equities analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Transactions at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,051 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total value of $528,978.42. Following the completion of the sale, the executive directly owned 62,759 shares in the company, valued at $5,486,391.78. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mona Chu sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total value of $1,338,925.00. Following the transaction, the chief accounting officer directly owned 138,899 shares of the company’s stock, valued at approximately $10,627,162.49. The trade was a 11.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 443,111 shares of company stock worth $36,793,439 over the last quarter. Company insiders own 5.60% of the company’s stock.

Pure Storage Company 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.