CW Advisors LLC Trims Stock Holdings in Pure Storage, Inc. $PSTG

CW Advisors LLC decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 21.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,768 shares of the technology company’s stock after selling 43,693 shares during the quarter. CW Advisors LLC owned about 0.05% of Pure Storage worth $9,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Beacon Pointe Advisors LLC lifted its holdings in Pure Storage by 5.3% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 13,173 shares of the technology company’s stock worth $759,000 after purchasing an additional 662 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Pure Storage in the second quarter worth about $26,148,000. M&T Bank Corp boosted its position in shares of Pure Storage by 12.3% in the second quarter. M&T Bank Corp now owns 7,634 shares of the technology company’s stock valued at $440,000 after acquiring an additional 838 shares during the period. MBM Wealth Consultants LLC grew its stake in Pure Storage by 40.5% during the second quarter. MBM Wealth Consultants LLC now owns 15,978 shares of the technology company’s stock valued at $920,000 after acquiring an additional 4,606 shares in the last quarter. Finally, Claret Asset Management Corp bought a new stake in Pure Storage during the 2nd quarter worth approximately $242,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PSTG shares. Weiss Ratings restated a “hold (c)” rating on shares of Pure Storage in a research report on Wednesday, October 8th. Guggenheim boosted their target price on Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Pure Storage in a research note on Wednesday. Wedbush lifted their price target on Pure Storage from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, UBS Group raised their target price on shares of Pure Storage from $55.00 to $60.00 and gave the company a “sell” rating in a research note on Wednesday. Thirteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.26.

Insider Buying and Selling

In related 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 transaction of $602,151.90. Following the completion of the sale, the insider directly owned 229,307 shares in the company, valued at $19,686,005.95. This represents a 2.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Dan Fitzsimons sold 6,051 shares of the firm’s stock in a transaction that occurred on 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. The trade was a 8.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 327,311 shares of company stock valued at $29,498,100 over the last three months. 5.60% of the stock is owned by corporate insiders.

Pure Storage Stock Performance

PSTG stock opened at $72.12 on Friday. The company has a market capitalization of $23.70 billion, a PE ratio of 189.79, a price-to-earnings-growth ratio of 6.45 and a beta of 1.27. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $100.59. The company’s 50 day moving average price is $88.67 and its two-hundred day moving average price is $71.30.

Pure Storage (NYSE:PSTG) last released its earnings results on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. The company had revenue of $763.77 million for the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. On average, research analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current 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.