Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC grew its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 170.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,422 shares of the technology company's stock after buying an additional 110,614 shares during the period. Abacus FCF Advisors LLC owned 0.05% of Pure Storage worth $7,766,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. McIlrath & Eck LLC purchased a new stake in shares of Pure Storage during the fourth quarter worth about $25,000. MassMutual Private Wealth & Trust FSB raised its stake in Pure Storage by 55.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after buying an additional 233 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in Pure Storage in the fourth quarter worth $31,000. EverSource Wealth Advisors LLC grew its position in Pure Storage by 157.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock valued at $44,000 after purchasing an additional 436 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Pure Storage by 180.3% during the fourth 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 in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays cut their target price on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a research report on Thursday, May 29th. Citigroup lifted their target price on Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Wall Street Zen raised shares of Pure Storage from a "hold" rating to a "buy" rating in a report on Friday, May 30th. UBS Group upped their price objective on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a report on Thursday, February 27th. Finally, Piper Sandler reiterated an "overweight" rating and set a $66.00 price objective (up previously from $53.00) on shares of Pure Storage in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $69.95.

Insider Activity at Pure Storage

In other news, Director John Francis Murphy sold 11,234 shares of the company's 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 transaction, the director now owns 21,930 shares in the company, valued at $1,209,000.90. This represents a 33.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the insider now directly owns 801,959 shares of the company's stock, valued at $41,709,887.59. This trade represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,083 shares of company stock valued at $6,150,676 over the last 90 days. Insiders own 5.60% of the company's stock.

Pure Storage Price Performance

NYSE PSTG traded down $0.24 during trading on Wednesday, reaching $54.88. 1,835,541 shares of the company's stock traded hands, compared to its average volume of 2,970,071. The firm has a market cap of $17.89 billion, a price-to-earnings ratio of 144.42, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. The company's 50 day simple moving average is $48.64 and its two-hundred day simple moving average is $56.19. 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 announced its earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $778.49 million for the quarter, compared to analysts' expectations of $770.03 million. Pure Storage had a return on equity of 16.06% and a net margin of 4.22%. The business's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. Research analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal 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.