Impact Partnership Wealth LLC Purchases New Stake in Pure Storage, Inc. (NYSE:PSTG)

Impact Partnership Wealth LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,264 shares of the technology company’s stock, valued at approximately $365,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSTG. Brookstone Capital Management boosted its position in Pure Storage by 7.3% during the first quarter. Brookstone Capital Management now owns 8,627 shares of the technology company’s stock worth $449,000 after purchasing an additional 584 shares during the period. Future Financial Wealth Managment LLC bought a new position in Pure Storage during the first quarter worth about $73,000. Oak Thistle LLC bought a new position in Pure Storage during the first quarter worth about $448,000. State of Michigan Retirement System bought a new position in Pure Storage during the first quarter worth about $3,790,000. Finally, State of Alaska Department of Revenue bought a new position in Pure Storage during the first quarter worth about $1,675,000. Institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PSTG shares. Northland Securities reissued a “market perform” rating and issued a $59.00 price target (down from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Piper Sandler lowered 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. Guggenheim increased their price target on shares of Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Susquehanna reissued a “positive” rating and issued a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. Finally, Raymond James lowered their price target on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.05.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $24,970,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the completion of the sale, the insider now owns 500,000 shares in the company, valued at approximately $24,970,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 554,542 shares of company stock worth $30,014,030. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Up 2.0 %

Shares of NYSE PSTG opened at $53.45 on Friday. Pure Storage, Inc. has a one year low of $31.00 and a one year 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 firm’s 50 day simple moving average is $52.86 and its two-hundred day simple moving average is $56.95. The stock has a market capitalization of $17.52 billion, a P/E ratio of 133.63, a PEG ratio of 8.31 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The business had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. As a group, analysts expect that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

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.