Kestra Private Wealth Services LLC Buys 1,226 Shares of Pure Storage, Inc. (NYSE:PSTG)

Kestra Private Wealth Services LLC increased its stake in Pure Storage, Inc. (NYSE:PSTG) by 19.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,406 shares of the technology company’s stock after purchasing an additional 1,226 shares during the period. Kestra Private Wealth Services LLC’s holdings in Pure Storage were worth $264,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PSTG. Naples Money Management LLC acquired a new stake in Pure Storage during the fourth quarter worth about $25,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $45,000. First Horizon Advisors Inc. boosted its position in shares of Pure Storage by 53.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,380 shares of the technology company’s stock worth $49,000 after acquiring an additional 480 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Pure Storage in the fourth quarter valued at approximately $64,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Pure Storage during the fourth quarter valued at approximately $67,000. Institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PSTG. Bank of America lifted their price target on Pure Storage from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on Pure Storage from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Susquehanna increased their target price on shares of Pure Storage from $45.00 to $65.00 and gave the stock a “positive” rating in a report on Thursday, April 11th. KeyCorp lifted their price target on shares of Pure Storage from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Citigroup started coverage on shares of Pure Storage in a research report on Friday, March 15th. They set a “buy” rating and a $65.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.63.

Pure Storage Stock Performance

NYSE PSTG opened at $53.45 on Thursday. The company has a market capitalization of $17.37 billion, a price-to-earnings ratio of 314.41, a PEG ratio of 6.78 and a beta of 1.15. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. Pure Storage, Inc. has a twelve month low of $22.57 and a twelve month high of $58.46. The stock has a fifty day simple moving average of $52.61 and a 200 day simple moving average of $42.76.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.10. The company had revenue of $789.81 million during the quarter, compared to analysts’ expectations of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Sell-side analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other news, CFO P. Kevan Krysler sold 15,286 shares of the company’s stock in a transaction on 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 directly owns 507,824 shares of the company’s stock, valued at approximately $26,813,107.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO P. Kevan Krysler sold 15,286 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total value of $807,100.80. Following the transaction, the chief financial officer now directly owns 507,824 shares of the company’s stock, valued at approximately $26,813,107.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roxanne Taylor sold 36,860 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $53.76, for a total value of $1,981,593.60. Following the sale, the director now owns 18,883 shares in the company, valued at approximately $1,015,150.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 286,581 shares of company stock worth $15,266,704. 6.50% of the stock is currently owned by insiders.

Pure Storage Company 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.