Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its position in Pure Storage, Inc. (NYSE:PSTG) by 35.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 910 shares of the technology company’s stock after purchasing an additional 239 shares during the period. Nisa Investment Advisors LLC’s holdings in Pure Storage were worth $40,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PSTG. Franklin Resources Inc. lifted its position in Pure Storage by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 2,566,374 shares of the technology company’s stock worth $157,652,000 after acquiring an additional 12,972 shares in the last quarter. D.A. Davidson & CO. lifted its position in Pure Storage by 7.7% during the 1st quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company’s stock worth $310,000 after acquiring an additional 500 shares in the last quarter. Fifth Third Bancorp lifted its position in Pure Storage by 11.3% during the 1st quarter. Fifth Third Bancorp now owns 5,339 shares of the technology company’s stock worth $236,000 after acquiring an additional 542 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Pure Storage by 8.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,327 shares of the technology company’s stock worth $324,000 after acquiring an additional 570 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Pure Storage by 4.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 121,895 shares of the technology company’s stock worth $5,396,000 after acquiring an additional 4,687 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pure Storage news, Director John Francis Murphy sold 6,959 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $56.17, for a total value of $390,887.03. Following the completion of the sale, the director owned 19,706 shares in the company, valued at approximately $1,106,886.02. This trade represents a 26.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $51.65, for a total value of $309,900.00. Following the completion of the sale, the executive owned 75,965 shares of the company’s stock, valued at $3,923,592.25. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,643 shares of company stock worth $8,104,689 in the last 90 days. 5.60% of the stock is owned by company insiders.

Pure Storage Price Performance

Shares of PSTG stock opened at $58.16 on Friday. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67. The stock’s 50-day moving average is $55.14 and its two-hundred day moving average is $55.04. The firm has a market cap of $19.01 billion, a P/E ratio of 157.19, a PEG ratio of 5.51 and a beta of 1.06.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $778.49 million for the quarter, compared to analyst estimates of $770.03 million. Pure Storage had a return on equity of 13.98% and a net margin of 3.93%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. As a group, research analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

Wall Street Analyst Weigh In

PSTG has been the topic of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Pure Storage in a research report on Thursday, May 29th. Morgan Stanley upped their target price on Pure Storage from $40.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 20th. Wall Street Zen raised Pure Storage from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Piper Sandler reiterated an “overweight” rating and issued a $66.00 price target (up from $53.00) on shares of Pure Storage in a report on Thursday, May 29th. Finally, Citigroup boosted their price target on Pure Storage from $55.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Pure Storage currently has a consensus rating of “Moderate Buy” and an average price target of $69.95.

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.