AE Wealth Management LLC Sells 2,057 Shares of Pure Storage, Inc. $PSTG

AE Wealth Management LLC decreased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 21.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,722 shares of the technology company’s stock after selling 2,057 shares during the period. AE Wealth Management LLC’s holdings in Pure Storage were worth $445,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. LPL Financial LLC increased its position 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 buying an additional 21,812 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Pure Storage by 13.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company’s stock valued at $12,209,000 after acquiring an additional 32,611 shares in the last quarter. Crumly & Associates Inc. bought a new stake in Pure Storage during the 2nd quarter worth approximately $242,000. Michael S. Ryan Inc. purchased a new stake in Pure Storage in the 2nd quarter worth approximately $254,000. Finally, Brighton Jones LLC bought a new position in Pure Storage in the 2nd quarter valued at $359,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insiders Place Their Bets

In related news, Director Roxanne Taylor sold 3,000 shares of Pure Storage stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $76.93, for a total value of $230,790.00. Following the transaction, the director directly owned 16,343 shares of the company’s stock, valued at $1,257,266.99. The trade was a 15.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mona Chu sold 17,500 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $76.51, for a total transaction of $1,338,925.00. Following the sale, the chief accounting officer directly owned 138,899 shares of the company’s stock, valued at $10,627,162.49. The trade was a 11.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 443,111 shares of company stock worth $36,793,439. 5.60% of the stock is currently owned by corporate insiders.

Pure Storage Stock Up 0.6%

Pure Storage stock opened at $84.48 on Friday. The firm has a fifty day simple moving average of $89.25 and a two-hundred day simple moving average of $68.31. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $100.59. The company has a market capitalization of $27.76 billion, a PE ratio of 206.06, a P/E/G ratio of 8.99 and a beta of 1.24.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PSTG shares. Piper Sandler set a $92.00 price objective on Pure Storage and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Bank of America upped their target price on Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. UBS Group set a $110.00 price target on Pure Storage in a research report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Pure Storage in a report on Wednesday, October 8th. Finally, Cowen restated a “buy” rating on shares of Pure Storage in a research report on Thursday, August 28th. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.65.

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.