5,054 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by Ascent Group LLC

Ascent Group LLC purchased a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,054 shares of the technology company's stock, valued at approximately $310,000.

A number of other large investors also recently bought and sold shares of the business. McIlrath & Eck LLC purchased a new position in Pure Storage during the fourth quarter valued at $25,000. Compass Financial Services Inc acquired a new position in shares of Pure Storage during the 4th quarter worth about $29,000. Crowley Wealth Management Inc. purchased a new position in Pure Storage in the 4th quarter valued at about $31,000. Financial Life Planners purchased a new position in Pure Storage in the 4th quarter valued at about $44,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Pure Storage by 157.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock worth $44,000 after buying an additional 436 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Transactions at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,977 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the transaction, the executive now directly owns 90,223 shares in the company, valued at $3,691,022.93. This trade represents a 7.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, May 12th. The shares were sold at an average price of $52.01, for a total value of $5,201,000.00. Following the completion of the sale, the insider now directly owns 801,959 shares of the company's stock, valued at $41,709,887.59. The trade was a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,849 shares of company stock worth $5,531,346. 5.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Pure Storage from $40.00 to $62.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Piper Sandler reiterated an "overweight" rating and set a $66.00 price target (up from $53.00) on shares of Pure Storage in a research report on Thursday. Citigroup raised their price objective on Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a report on Friday, May 16th. Evercore ISI lifted their target price on shares of Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen cut shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of "Moderate Buy" and an average target price of $70.40.

Pure Storage Stock Down 2.6%

Shares of Pure Storage stock traded down $1.46 during mid-day trading on Thursday, hitting $53.69. The stock had a trading volume of 7,687,289 shares, compared to its average volume of 3,093,500. The firm has a 50-day moving average of $47.37 and a two-hundred day moving average of $55.89. The firm has a market cap of $17.50 billion, a P/E ratio of 141.28, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $778.49 million during the quarter, compared to analyst estimates of $770.03 million. Pure Storage had a return on equity of 16.06% and a net margin of 4.22%. The firm's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. Sell-side analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current 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.