Krilogy Financial LLC Takes Position in Pure Storage, Inc. $PSTG

Krilogy Financial LLC acquired a new position in Pure Storage, Inc. (NYSE:PSTG) during the third quarter, HoldingsChannel.com reports. The fund acquired 13,509 shares of the technology company’s stock, valued at approximately $1,132,000.

Several other large investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new stake in Pure Storage in the first quarter valued at approximately $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Pure Storage by 129.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the technology company’s stock valued at $387,000 after purchasing an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Pure Storage by 109.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock valued at $50,377,000 after purchasing an additional 595,307 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Pure Storage by 4.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock worth $212,000 after purchasing an additional 194 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new position in Pure Storage during the 2nd quarter worth $280,000. Institutional investors own 83.42% of the company’s stock.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ajay Singh sold 7,178 shares of the stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value of $481,930.92. Following the sale, the insider directly owned 215,091 shares in the company, 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. 5.60% of the stock is owned by corporate insiders.

Pure Storage Stock Down 6.9%

Shares of NYSE:PSTG opened at $70.79 on Friday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $100.59. The stock has a market cap of $23.37 billion, a price-to-earnings ratio of 186.30, a PEG ratio of 5.92 and a beta of 1.27. The business has a 50-day moving average price of $70.23 and a 200-day moving average price of $76.48.

Pure Storage (NYSE:PSTG) last issued its earnings results on Tuesday, December 2nd. The technology company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. Pure Storage had a return on equity of 10.60% and a net margin of 3.74%.The firm had revenue of $964.45 million for the quarter, compared to analyst estimates of $955.60 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Pure Storage’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Ratings Changes

PSTG has been the subject of a number of research analyst reports. Oppenheimer started coverage on Pure Storage in a research note on Monday, November 17th. They issued an “outperform” rating and a $120.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Pure Storage in a report on Thursday, January 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Pure Storage from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, December 3rd. Barclays lifted their target price on shares of Pure Storage from $70.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 3rd. Finally, Tigress Financial set a $105.00 price target on shares of Pure Storage in a research note on Wednesday, December 3rd. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Pure Storage presently has a consensus rating of “Moderate Buy” and an average target price of $95.26.

Pure Storage Profile

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.