Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 19.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,695 shares of the technology company's stock after buying an additional 4,592 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Pure Storage were worth $1,270,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Trust Point Inc. acquired a new stake in shares of Pure Storage during the 4th quarter worth about $202,000. Retirement Systems of Alabama raised its stake in Pure Storage by 0.9% during the 4th quarter. Retirement Systems of Alabama now owns 378,523 shares of the technology company's stock worth $23,253,000 after acquiring an additional 3,195 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Pure Storage by 2.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,640 shares of the technology company's stock valued at $3,172,000 after acquiring an additional 1,093 shares during the last quarter. Tobam boosted its stake in Pure Storage by 17.9% in the fourth quarter. Tobam now owns 20,487 shares of the technology company's stock valued at $1,259,000 after acquiring an additional 3,117 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in Pure Storage in the fourth quarter valued at $66,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Pure Storage Stock Down 0.8%

PSTG stock traded down $0.43 on Tuesday, reaching $55.11. 1,811,233 shares of the company's stock were exchanged, compared to its average volume of 2,975,930. The stock has a fifty day moving average of $48.64 and a 200-day moving average of $56.19. The firm has a market cap of $17.97 billion, a PE ratio of 145.03, a P/E/G ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its earnings results 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 return on equity of 16.06% and a net margin of 4.22%. The company had revenue of $778.49 million for the quarter, compared to the consensus estimate of $770.03 million. During the same period in the previous year, the business earned $0.32 earnings per share. Pure Storage's quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Activity

In related news, Director John Francis Murphy sold 11,234 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $55.13, for a total value of $619,330.42. Following the completion of the transaction, the director now owns 21,930 shares of the company's stock, valued at approximately $1,209,000.90. The trade was a 33.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 6,977 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were 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 of the company's stock, valued at approximately $3,691,022.93. This represents a 7.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,083 shares of company stock worth $6,150,676 over the last ninety days. 5.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PSTG shares. JPMorgan Chase & Co. reduced their target price on Pure Storage from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, May 29th. Piper Sandler reiterated an "overweight" rating and issued a $66.00 price objective (up previously from $53.00) on shares of Pure Storage in a research note on Thursday, May 29th. Needham & Company LLC reissued a "buy" rating and issued a $75.00 price objective on shares of Pure Storage in a report on Thursday, May 29th. Bank of America cut their target price on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Evercore ISI increased their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Pure Storage presently has an average rating of "Moderate Buy" and an average price target of $69.95.

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.