4,879 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by Cordatus Wealth Management LLC

Key Points

• Cordatus Wealth Management LLC has acquired a new position in Pure Storage, purchasing 4,879 shares valued at approximately $216,000.
• Pure Storage reported a 12.3% increase in revenue year-over-year, with an earnings per share of $0.29, surpassing the consensus estimate of $0.25.
• The stock has a current market capitalization of $19.35 billion, with a price-to-earnings ratio of 160.06, reflecting investor optimism despite high valuations.

Cordatus Wealth Management LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,879 shares of the technology company's stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSTG. McIlrath & Eck LLC acquired a new stake in shares of Pure Storage during the 4th quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after acquiring an additional 233 shares in the last quarter. FNY Investment Advisers LLC boosted its holdings in Pure Storage by 5,233.3% during the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after purchasing an additional 785 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in Pure Storage during the first quarter valued at approximately $38,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Pure Storage by 35.6% during the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock valued at $40,000 after purchasing an additional 239 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 198,749 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the transaction, the insider owned 500,000 shares in the company, valued at approximately $30,160,000. This trade represents a 28.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 22,601 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $55.45, for a total value of $1,253,225.45. Following the transaction, the insider owned 261,465 shares in the company, valued at approximately $14,498,234.25. This trade represents a 7.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 547,666 shares of company stock worth $31,887,830 in the last 90 days. Corporate insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

PSTG has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a report on Friday, June 20th. Wall Street Zen downgraded Pure Storage from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Barclays dropped their price objective on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a report on Thursday, May 29th. Wedbush reaffirmed an "outperform" rating and set a $70.00 price objective on shares of Pure Storage in a report on Thursday, May 29th. Finally, Morgan Stanley raised their price objective on shares of Pure Storage from $40.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $69.95.

Pure Storage Trading Down 8.4%

Shares of NYSE:PSTG traded down $4.98 during trading on Friday, hitting $54.54. 2,976,585 shares of the company's stock were exchanged, compared to its average volume of 2,040,113. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The firm has a 50-day moving average price of $55.55 and a two-hundred day moving average price of $54.69. The firm has a market cap of $17.83 billion, a P/E ratio of 147.41, a PEG ratio of 5.66 and a beta of 1.07.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The technology company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The company had revenue of $778.49 million during the quarter, compared to analysts' expectations of $770.03 million. During the same quarter in the previous year, the company earned $0.32 EPS. Pure Storage's revenue was up 12.3% on a year-over-year basis. As a group, research analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

About Pure Storage

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.