Cetera Investment Advisers Boosts Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Cetera Investment Advisers raised its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 12.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,146 shares of the technology company's stock after buying an additional 8,878 shares during the period. Cetera Investment Advisers' holdings in Pure Storage were worth $3,637,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PSTG. T. Rowe Price Investment Management Inc. increased its position in shares of Pure Storage by 5.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,207,162 shares of the technology company's stock worth $442,736,000 after purchasing an additional 401,035 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of Pure Storage by 3.0% in the fourth quarter. Champlain Investment Partners LLC now owns 5,921,392 shares of the technology company's stock valued at $363,751,000 after acquiring an additional 174,449 shares during the period. Invesco Ltd. grew its position in shares of Pure Storage by 18.8% during the fourth quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company's stock worth $255,677,000 after acquiring an additional 657,175 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Pure Storage by 3.0% in the 4th quarter. First Trust Advisors LP now owns 3,118,774 shares of the technology company's stock valued at $191,586,000 after acquiring an additional 91,368 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Pure Storage by 18.2% in the 4th quarter. Northern Trust Corp now owns 2,888,060 shares of the technology company's stock valued at $177,414,000 after acquiring an additional 443,728 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSTG has been the topic of several research reports. Wedbush reissued an "outperform" rating and set a $70.00 price objective on shares of Pure Storage in a research report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and set a $66.00 price target (up previously from $53.00) on shares of Pure Storage in a report on Thursday, May 29th. Evercore ISI upped their price objective on Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Wall Street Zen downgraded Pure Storage from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Citigroup boosted their target price on Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $69.95.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,000 shares of Pure Storage stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $51.65, for a total transaction of $309,900.00. Following the completion of the transaction, the executive directly owned 75,965 shares of the company's stock, valued at approximately $3,923,592.25. The trade was a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Francis Murphy sold 6,959 shares of the business's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $56.17, for a total value of $390,887.03. Following the sale, the director owned 19,706 shares in the company, valued at approximately $1,106,886.02. The trade was a 26.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 547,666 shares of company stock worth $31,887,830. 5.60% of the stock is currently owned by insiders.

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $56.24 on Tuesday. The company's fifty day moving average is $55.56 and its two-hundred day moving average is $54.47. The firm has a market capitalization of $18.38 billion, a P/E ratio of 152.00, a PEG ratio of 5.19 and a beta of 1.07. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The firm had revenue of $778.49 million for the quarter, compared to the consensus estimate of $770.03 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm's revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

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.

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