Allworth Financial LP Boosts Stock Position in Pure Storage, Inc. $PSTG

Allworth Financial LP boosted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 4,975.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,914 shares of the technology company’s stock after purchasing an additional 37,167 shares during the period. Allworth Financial LP’s holdings in Pure Storage were worth $2,183,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSTG. LPL Financial LLC lifted its holdings in shares of Pure Storage by 22.6% during the first quarter. LPL Financial LLC now owns 118,368 shares of the technology company’s stock valued at $5,240,000 after purchasing an additional 21,812 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Pure Storage by 13.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company’s stock worth $12,209,000 after buying an additional 32,611 shares during the last quarter. Crumly & Associates Inc. bought a new position in Pure Storage during the 2nd quarter valued at approximately $242,000. Michael S. Ryan Inc. purchased a new position in Pure Storage during the second quarter valued at $254,000. Finally, Brighton Jones LLC bought a new stake in Pure Storage in the second quarter worth $359,000. Institutional investors own 83.42% of the company’s stock.

Insider Transactions at Pure Storage

In related news, CAO Mona Chu sold 9,091 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.91, for a total value of $771,916.81. Following the transaction, the chief accounting officer directly owned 107,353 shares of the company’s stock, valued at approximately $9,115,343.23. This trade represents a 7.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $91.59, for a total value of $9,159,000.00. Following the sale, the insider directly owned 100,000 shares of the company’s stock, valued at $9,159,000. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 443,111 shares of company stock worth $36,793,439 over the last three months. 5.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Northland Securities raised their price target on Pure Storage from $63.00 to $71.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Citigroup increased their price objective on shares of Pure Storage from $81.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. UBS Group set a $110.00 price objective on shares of Pure Storage in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Pure Storage in a research note on Wednesday, October 8th. Finally, Lake Street Capital raised their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Pure Storage Stock Up 1.3%

Pure Storage stock opened at $88.58 on Thursday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $100.59. The company has a market cap of $29.11 billion, a P/E ratio of 216.06, a P/E/G ratio of 8.99 and a beta of 1.24. The business has a 50-day simple moving average of $89.04 and a two-hundred day simple moving average of $67.77.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The company had revenue of $763.77 million for the quarter. Research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

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.