Peregrine Capital Management LLC Acquires 5,503 Shares of Pure Storage, Inc. (NYSE:PSTG)

Peregrine Capital Management LLC raised its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,595 shares of the technology company's stock after buying an additional 5,503 shares during the period. Peregrine Capital Management LLC owned about 0.05% of Pure Storage worth $7,287,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. McIlrath & Eck LLC bought a new position in shares of Pure Storage during the 4th quarter valued at $25,000. Crowley Wealth Management Inc. bought a new position in shares of Pure Storage during the fourth quarter valued at about $31,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Pure Storage by 55.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after buying an additional 233 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Pure Storage by 157.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock valued at $44,000 after acquiring an additional 436 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Pure Storage by 180.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 740 shares of the technology company's stock valued at $46,000 after acquiring an additional 476 shares during the period. Institutional investors own 83.42% of the company's stock.

Insider Buying and Selling

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $52.01, for a total value of $5,201,000.00. Following the completion of the transaction, the insider owned 801,959 shares of the company's stock, valued at $41,709,887.59. The trade was a 11.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Francis Murphy sold 11,234 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $55.13, for a total transaction of $619,330.42. Following the sale, the director directly owned 21,930 shares in the company, valued at $1,209,000.90. This trade represents a 33.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,083 shares of company stock worth $6,460,576 in the last 90 days. Insiders own 5.60% of the company's stock.

Pure Storage Price Performance

PSTG stock traded up $0.68 during midday trading on Wednesday, hitting $55.90. The stock had a trading volume of 405,473 shares, compared to its average volume of 2,923,830. The business has a 50-day moving average of $52.54 and a two-hundred day moving average of $55.70. The firm has a market cap of $18.27 billion, a price-to-earnings ratio of 150.91, a price-to-earnings-growth ratio of 5.46 and a beta of 1.06. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67.

Pure Storage (NYSE:PSTG - Get Free Report) last released its earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share 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 period in the prior year, the firm earned $0.32 EPS. The company's revenue was up 12.3% compared to the same quarter last year. Research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Evercore ISI lifted their price target on Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Wedbush reaffirmed an "outperform" rating and issued a $70.00 target price on shares of Pure Storage in a research note on Thursday, May 29th. JPMorgan Chase & Co. dropped their price target on shares of Pure Storage from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and issued a $66.00 price target (up previously from $53.00) on shares of Pure Storage in a report on Thursday, May 29th. Finally, Wall Street Zen raised shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $69.95.

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.