Cwm LLC Grows Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Cwm LLC raised its stake in Pure Storage, Inc. (NYSE:PSTG) by 30.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,145 shares of the technology company’s stock after buying an additional 1,435 shares during the period. Cwm LLC’s holdings in Pure Storage were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Sei Investments Co. lifted its holdings in Pure Storage by 19.7% during the third quarter. Sei Investments Co. now owns 464,256 shares of the technology company’s stock worth $16,537,000 after buying an additional 76,421 shares during the period. William Blair Investment Management LLC boosted its position in Pure Storage by 11.4% during the third quarter. William Blair Investment Management LLC now owns 687,600 shares of the technology company’s stock valued at $24,492,000 after purchasing an additional 70,620 shares in the last quarter. Weil Company Inc. purchased a new position in Pure Storage in the third quarter valued at about $433,000. Sequoia Financial Advisors LLC bought a new position in Pure Storage in the fourth quarter worth about $514,000. Finally, Mackenzie Financial Corp lifted its position in shares of Pure Storage by 13.2% during the fourth quarter. Mackenzie Financial Corp now owns 533,530 shares of the technology company’s stock valued at $19,026,000 after buying an additional 62,274 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PSTG shares. Bank of America lifted their price objective on shares of Pure Storage from $42.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Stifel Nicolaus increased their price objective on Pure Storage from $41.00 to $46.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Raymond James cut Pure Storage from a “strong-buy” rating to an “outperform” rating and raised their price objective for the stock from $52.00 to $63.00 in a research report on Friday, April 19th. UBS Group upped their target price on Pure Storage from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of Pure Storage in a report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.63.

Insider Activity at Pure Storage

In other news, Director Roxanne Taylor sold 36,860 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 18,883 shares of the company’s stock, valued at approximately $1,015,150.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Roxanne Taylor sold 36,860 shares of the stock in a transaction dated 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 sale, the director now directly owns 18,883 shares of the company’s stock, valued at approximately $1,015,150.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO P. Kevan Krysler sold 15,286 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total value of $807,100.80. Following the sale, the chief financial officer now owns 507,824 shares in the company, valued at $26,813,107.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,581 shares of company stock worth $15,266,704. 6.50% of the stock is owned by corporate insiders.

Pure Storage Stock Up 1.6 %

PSTG stock opened at $52.24 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 1.80. The firm’s fifty day simple moving average is $51.67 and its 200-day simple moving average is $42.18. Pure Storage, Inc. has a 12 month low of $22.14 and a 12 month high of $58.46. The company has a market capitalization of $16.97 billion, a P/E ratio of 307.29, a price-to-earnings-growth ratio of 6.51 and a beta of 1.15.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The business had revenue of $789.81 million during the quarter, compared to analyst estimates of $784.31 million. During the same quarter last year, the business posted $0.27 EPS. The company’s revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current 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.