Capital Investment Advisory Services LLC Acquires New Position in Pure Storage, Inc. $PSTG

Capital Investment Advisory Services LLC bought a new position in Pure Storage, Inc. (NYSE:PSTG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,658 shares of the technology company’s stock, valued at approximately $642,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Winnow Wealth LLC acquired a new stake in shares of Pure Storage during the 3rd quarter worth approximately $26,000. CoreCap Advisors LLC grew its stake in Pure Storage by 123.7% during the 3rd quarter. CoreCap Advisors LLC now owns 510 shares of the technology company’s stock worth $43,000 after buying an additional 282 shares during the last quarter. Quent Capital LLC acquired a new stake in Pure Storage in the third quarter worth $43,000. True Wealth Design LLC increased its position in Pure Storage by 402.8% in the second quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock worth $32,000 after buying an additional 439 shares during the period. Finally, SouthState Corp lifted its stake in Pure Storage by 474.8% in the second quarter. SouthState Corp now owns 592 shares of the technology company’s stock valued at $34,000 after buying an additional 489 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Northland Securities set a $77.00 price target on shares of Pure Storage in a research report on Wednesday, December 3rd. Wall Street Zen lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Susquehanna set a $105.00 price target on shares of Pure Storage in a research note on Wednesday, December 3rd. Morgan Stanley set a $83.00 price objective on Pure Storage in a research report on Wednesday, December 3rd. Finally, Tigress Financial set a $105.00 price objective on Pure Storage in a report on Wednesday, December 3rd. Twelve investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.26.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the sale, the insider directly owned 215,091 shares in the company, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $71.31, for a total transaction of $7,131,000.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 207,178 shares of company stock valued at $16,771,931. Insiders own 5.60% of the company’s stock.

Pure Storage Price Performance

Pure Storage stock opened at $71.15 on Friday. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59. The stock has a market capitalization of $23.49 billion, a PE ratio of 187.24, a price-to-earnings-growth ratio of 5.52 and a beta of 1.27. The firm has a 50 day simple moving average of $70.82 and a 200-day simple moving average of $76.15.

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

Pure Storage Company Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.