SG Americas Securities LLC Acquires 73,181 Shares of Pure Storage, Inc. (NYSE:PSTG)

SG Americas Securities LLC increased its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 3,506.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,268 shares of the technology company's stock after acquiring an additional 73,181 shares during the quarter. SG Americas Securities LLC's holdings in Pure Storage were worth $3,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. McIlrath & Eck LLC bought a new stake in Pure Storage during the 4th quarter valued at about $25,000. Crowley Wealth Management Inc. bought a new stake in Pure Storage during the 4th quarter valued at about $31,000. MassMutual Private Wealth & Trust FSB increased its stake in 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 purchasing an additional 233 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake 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 in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake 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 purchasing an additional 476 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PSTG. Wall Street Zen upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. dropped their price target on shares of Pure Storage from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. Wedbush reaffirmed an "outperform" rating and set a $70.00 price target on shares of Pure Storage in a report on Thursday, May 29th. Piper Sandler reaffirmed 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. Finally, Bank of America dropped their price target 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. One 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.95.

Pure Storage Stock Down 0.0%

NYSE:PSTG traded down $0.01 during trading hours on Monday, hitting $51.64. 5,428,799 shares of the stock traded hands, compared to its average volume of 2,977,481. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67. The company has a market cap of $16.84 billion, a price-to-earnings ratio of 135.91, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. The stock has a 50 day moving average price of $49.57 and a 200 day moving average price of $56.21.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. Pure Storage had a net margin of 4.22% and a return on equity of 16.06%. The business 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 company's revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the sale, the insider now owns 801,959 shares in the company, valued at $41,709,887.59. This trade represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Dan Fitzsimons sold 872 shares of Pure Storage stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $51.51, for a total transaction of $44,916.72. Following the sale, the executive now owns 89,351 shares in the company, valued at approximately $4,602,470.01. The trade was a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,083 shares of company stock worth $6,150,676 over the last quarter. Insiders own 5.60% of the company's stock.

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.