Evergreen Capital Management LLC Acquires New Position in Pure Storage, Inc. (NYSE:PSTG)

Evergreen Capital Management LLC acquired a new stake in Pure Storage, Inc. (NYSE:PSTG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,153 shares of the technology company’s stock, valued at approximately $267,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSTG. Banque Cantonale Vaudoise purchased a new stake in shares of Pure Storage in the first quarter valued at approximately $25,000. Fidelis Capital Partners LLC purchased a new stake in shares of Pure Storage during the 1st quarter worth $27,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after purchasing an additional 161 shares during the period. Larson Financial Group LLC increased its holdings in shares of Pure Storage by 242.9% in the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after purchasing an additional 306 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of Pure Storage by 295.6% in the first quarter. Lindbrook Capital LLC now owns 633 shares of the technology company’s stock valued at $33,000 after purchasing an additional 473 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PSTG shares. Needham & Company LLC reduced their price objective on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Guggenheim restated a “buy” rating and set a $72.00 target price on shares of Pure Storage in a report on Tuesday, June 25th. Raymond James reduced their price target on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Morgan Stanley cut shares of Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective for the company. in a research note on Wednesday, June 12th. Finally, Citigroup lowered their target price on Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.95.

Insider Activity

In other news, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $63.79, for a total value of $911,941.84. Following the sale, the chief financial officer now owns 518,623 shares in the company, valued at approximately $33,082,961.17. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Pure Storage news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the completion of the sale, the insider now owns 900,000 shares in the company, valued at $53,550,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO P. Kevan Krysler sold 14,296 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $63.79, for a total transaction of $911,941.84. Following the completion of the transaction, the chief financial officer now owns 518,623 shares in the company, valued at $33,082,961.17. The disclosure for this sale can be found here. In the last three months, insiders sold 458,072 shares of company stock worth $25,565,792. 6.00% of the stock is currently owned by insiders.

Pure Storage Trading Down 2.0 %

PSTG opened at $49.44 on Friday. The firm has a market capitalization of $16.08 billion, a P/E ratio of 176.57, a P/E/G ratio of 7.87 and a beta of 1.11. The firm’s 50 day moving average is $54.67 and its 200-day moving average is $56.84. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. The business had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. Analysts expect that Pure Storage, Inc. will post 0.43 EPS 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.