6,839 Shares in Pure Storage, Inc. (NYSE:PSTG) Purchased by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,839 shares of the technology company’s stock, valued at approximately $244,000.

A number of other large investors have also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in Pure Storage during the 3rd quarter valued at about $28,000. ST Germain D J Co. Inc. bought a new stake in Pure Storage during the 2nd quarter valued at about $32,000. Parkside Financial Bank & Trust bought a new stake in Pure Storage during the 1st quarter valued at about $33,000. Quarry LP lifted its holdings in Pure Storage by 51.7% during the 1st quarter. Quarry LP now owns 1,784 shares of the technology company’s stock valued at $46,000 after buying an additional 608 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in Pure Storage during the 1st quarter valued at about $47,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PSTG. Evercore ISI lifted their price objective on shares of Pure Storage from $41.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. boosted their price target on shares of Pure Storage from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and issued a $66.00 price target on shares of Pure Storage in a report on Thursday. Citigroup began coverage on shares of Pure Storage in a report on Friday, March 15th. They issued a “buy” rating and a $65.00 price target for the company. Finally, Bank of America boosted their price target on shares of Pure Storage from $42.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.53.

Pure Storage Stock Down 2.8 %

NYSE:PSTG opened at $53.43 on Friday. The company has a market cap of $17.36 billion, a PE ratio of 314.31, a P/E/G ratio of 7.14 and a beta of 1.15. Pure Storage, Inc. has a twelve month low of $22.14 and a twelve month high of $58.46. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $49.14 and its two-hundred day moving average is $40.63.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.10. The company had revenue of $789.81 million for the quarter, compared to the consensus estimate of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. Pure Storage’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. Analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other Pure Storage news, insider Ajay Singh sold 37,588 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the sale, the insider now owns 380,834 shares of the company’s stock, valued at approximately $20,389,852.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Ajay Singh sold 37,588 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $53.54, for a total value of $2,012,461.52. Following the sale, the insider now directly owns 380,834 shares of the company’s stock, valued at approximately $20,389,852.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roxanne Taylor sold 36,860 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $53.76, for a total transaction of $1,981,593.60. Following the completion of the sale, the director now directly owns 18,883 shares in the company, valued at $1,015,150.08. The disclosure for this sale can be found here. 6.50% of the stock is owned by insiders.

Pure Storage Company Profile

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.