Cwm LLC Buys 1,751 Shares of Pure Storage, Inc. (NYSE:PSTG)

Cwm LLC boosted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 26.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,309 shares of the technology company’s stock after buying an additional 1,751 shares during the quarter. Cwm LLC’s holdings in Pure Storage were worth $368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSTG. McIlrath & Eck LLC bought a new stake in Pure Storage during the 4th quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company’s stock valued at $29,000 after buying an additional 233 shares in the last quarter. FNY Investment Advisers LLC increased its position in Pure Storage by 5,233.3% during the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company’s stock valued at $35,000 after purchasing an additional 785 shares during the period. TruNorth Capital Management LLC purchased a new position in Pure Storage during the 1st quarter valued at about $38,000. Finally, Nisa Investment Advisors LLC increased its position in Pure Storage by 35.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after purchasing an additional 239 shares during the period. Institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Up 1.1%

NYSE:PSTG opened at $57.56 on Friday. The company has a market cap of $18.81 billion, a PE ratio of 155.57, a P/E/G ratio of 5.42 and a beta of 1.06. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67. The company’s 50 day moving average is $55.30 and its two-hundred day moving average is $54.88.

Pure Storage (NYSE:PSTG) last released 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 the consensus estimate of $770.03 million. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. Pure Storage’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. As a group, analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the completion of the sale, the insider directly owned 801,959 shares in the company, valued at approximately $41,709,887.59. The trade was a 11.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Francis Murphy sold 6,959 shares of Pure Storage stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $56.17, for a total transaction of $390,887.03. Following the sale, the director owned 19,706 shares of the company’s stock, valued at approximately $1,106,886.02. The trade was a 26.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,666 shares of company stock worth $7,819,260 in the last quarter. 5.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PSTG has been the topic of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Pure Storage from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, May 29th. Citigroup raised their target price on shares of Pure Storage from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Morgan Stanley raised their target price on shares of 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 downgraded shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Barclays cut their target price on shares of Pure Storage from $61.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average 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.