Creative Planning Purchases 6,298 Shares of Pure Storage, Inc. $PSTG

Creative Planning raised its position in Pure Storage, Inc. (NYSE:PSTG) by 15.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,185 shares of the technology company’s stock after buying an additional 6,298 shares during the period. Creative Planning’s holdings in Pure Storage were worth $2,717,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in shares of Pure Storage by 289.7% in the second quarter. SG Americas Securities LLC now owns 293,329 shares of the technology company’s stock valued at $16,890,000 after acquiring an additional 218,061 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Pure Storage by 7.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 79,850 shares of the technology company’s stock valued at $4,598,000 after purchasing an additional 5,765 shares in the last quarter. Arcadia Investment Management Corp MI increased its holdings in Pure Storage by 22.5% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 67,565 shares of the technology company’s stock valued at $3,890,000 after purchasing an additional 12,405 shares in the last quarter. ABN Amro Investment Solutions bought a new position in Pure Storage in the 2nd quarter valued at $5,848,000. Finally, Candriam S.C.A. acquired a new position in Pure Storage in the second quarter worth $891,000. 83.42% of the stock is owned by institutional investors.

Pure Storage Trading Up 1.6%

Shares of NYSE PSTG opened at $78.49 on Monday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59. The firm’s 50-day moving average is $89.23 and its 200-day moving average is $69.65. The firm has a market capitalization of $25.79 billion, a PE ratio of 191.44, a price-to-earnings-growth ratio of 8.99 and a beta of 1.24.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PSTG. Barclays raised their target price on Pure Storage from $57.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, August 29th. Cowen restated a “buy” rating on shares of Pure Storage in a research report on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pure Storage in a research note on Wednesday, October 8th. UBS Group set a $110.00 target price on shares of Pure Storage in a research report on Tuesday, October 21st. Finally, Morgan Stanley raised their price target on shares of Pure Storage from $72.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.61.

Insider Buying and Selling

In other Pure Storage news, insider Ajay Singh sold 7,014 shares of the stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total value of $602,151.90. Following the transaction, the insider owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 6,051 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total value of $528,978.42. Following the transaction, the executive owned 62,759 shares in the company, valued at approximately $5,486,391.78. This trade represents a 8.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 443,111 shares of company stock worth $36,793,439 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

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.