Venturi Wealth Management LLC Has $38,000 Position in Pure Storage, Inc. (NYSE:PSTG)

Venturi Wealth Management LLC lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 40.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 754 shares of the technology company’s stock after buying an additional 219 shares during the quarter. Venturi Wealth Management LLC’s holdings in Pure Storage were worth $38,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PSTG. Sycomore Asset Management acquired a new stake in Pure Storage during the second quarter worth approximately $2,259,000. MinichMacGregor Wealth Management LLC acquired a new stake in Pure Storage during the 3rd quarter worth approximately $6,890,000. Heritage Wealth Management Inc. bought a new stake in Pure Storage in the 2nd quarter valued at $721,000. Cetera Investment Advisers grew its holdings in Pure Storage by 284.9% in the 1st quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock valued at $2,901,000 after buying an additional 41,305 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in Pure Storage by 182.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 216,808 shares of the technology company’s stock worth $11,262,000 after buying an additional 140,071 shares during the period. Institutional investors own 83.42% of the company’s stock.

Insider Activity

In related news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now directly owns 94,446 shares in the company, valued at $4,785,578.82. This represents a 8.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the transaction, the insider now owns 300,000 shares of the company’s stock, valued at approximately $17,196,000. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 454,542 shares of company stock valued at $24,775,030. Insiders own 6.00% of the company’s stock.

Pure Storage Trading Down 3.3 %

Shares of PSTG stock opened at $48.18 on Friday. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $15.79 billion, a P/E ratio of 120.45, a P/E/G ratio of 7.93 and a beta of 1.10. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The stock’s fifty day simple moving average is $51.36 and its 200 day simple moving average is $56.90.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data 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. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. The company had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. As a group, sell-side analysts predict that Pure Storage, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PSTG has been the topic of several research reports. Raymond James decreased their price target on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. UBS Group lowered their target price on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Citigroup dropped 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 report on Thursday, August 29th. Stifel Nicolaus reduced their price target on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, August 29th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Pure Storage in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.15.

Pure Storage 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.