Pure Storage, Inc. (NYSE:PSTG) Shares Sold by 1834 Investment Advisors Co.

by · The Markets Daily

1834 Investment Advisors Co. cut its position in shares of Pure Storage, Inc. (NYSE:PSTG – Free Report) by 20.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,755 shares of the technology company’s stock after selling 5,690 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Pure Storage were worth $1,143,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PSTG. Massmutual Trust Co. FSB ADV grew its holdings in Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after buying an additional 161 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after acquiring an additional 306 shares during the last quarter. FSC Wealth Advisors LLC purchased a new stake in Pure Storage during the 2nd quarter worth about $33,000. Fidelis Capital Partners LLC acquired a new position in Pure Storage in the 1st quarter valued at about $27,000. Finally, ORG Partners LLC purchased a new position in Pure Storage in the 2nd quarter valued at about $35,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the sale, the insider now directly owns 700,000 shares in the company, valued at $43,232,000. The trade was 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 available through the SEC website. In related news, CAO Mona Chu sold 20,647 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the completion of the sale, the chief accounting officer now directly owns 75,992 shares in the company, valued at approximately $3,913,588. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total value of $6,176,000.00. Following the sale, the insider now owns 700,000 shares of the company’s stock, valued at $43,232,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 454,542 shares of company stock worth $24,775,030. 6.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PSTG shares. Northland Securities reiterated a “market perform” rating and set a $59.00 price target (down from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Lake Street Capital cut their price target on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Guggenheim raised their price objective on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Stifel Nicolaus lowered their price objective on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. Finally, Citigroup reduced their target price on Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.05.

Check Out Our Latest Research Report on PSTG

Pure Storage Stock Performance

Shares of PSTG opened at $51.16 on Wednesday. The firm has a fifty day moving average of $51.20 and a 200-day moving average of $56.97. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 127.90, a price-to-earnings-growth ratio of 7.99 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41.

Pure Storage (NYSE:PSTG – Get Free Report) last posted its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The firm had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. As a group, equities analysts anticipate that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Pure Storage Profile

(Free Report)

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.

See Also

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