Veracity Capital LLC Invests $521,000 in Pure Storage, Inc. (NYSE:PSTG)

Veracity Capital LLC acquired a new stake in Pure Storage, Inc. (NYSE:PSTG) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,017 shares of the technology company’s stock, valued at approximately $521,000.

Other institutional investors also recently added to or reduced their stakes in the company. Naples Money Management LLC acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $25,000. Banque Cantonale Vaudoise acquired a new stake in shares of Pure Storage during the 1st quarter worth approximately $25,000. Principal Securities Inc. acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $31,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $45,000. Finally, Rise Advisors LLC acquired a new stake in shares of Pure Storage during the 1st quarter worth approximately $48,000. 83.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

PSTG has been the topic of several recent analyst reports. TD Cowen boosted their price target on Pure Storage from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. KeyCorp upped their price target on Pure Storage from $64.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. UBS Group lowered Pure Storage from a “neutral” rating to a “sell” rating and upped their price target for the company from $44.00 to $47.00 in a research note on Tuesday. Barclays upped their price target on Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price target on shares of Pure Storage in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average target price of $69.11.

Pure Storage Stock Up 1.5 %

Shares of NYSE PSTG traded up $0.92 during mid-day trading on Thursday, reaching $63.69. 1,918,646 shares of the company’s stock were exchanged, compared to its average volume of 3,554,213. The firm has a market capitalization of $20.71 billion, a price-to-earnings ratio of 227.46, a PEG ratio of 6.32 and a beta of 1.11. The company has a current ratio of 2.00, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $60.48 and a 200 day simple moving average of $50.48. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $693.48 million during the quarter, compared to the consensus estimate of $681.37 million. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. As a group, equities analysts expect that Pure Storage, Inc. will post 0.47 EPS for the current fiscal year.

Insider Buying and Selling at Pure Storage

In related news, Director Mallun Yen sold 4,818 shares of Pure Storage stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $64.78, for a total transaction of $312,110.04. Following the completion of the sale, the director now directly owns 35,498 shares of the company’s stock, valued at approximately $2,299,560.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Mallun Yen sold 4,818 shares of Pure Storage stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $64.78, for a total transaction of $312,110.04. Following the completion of the sale, the director now directly owns 35,498 shares of the company’s stock, valued at approximately $2,299,560.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ajay Singh sold 37,588 shares of Pure Storage stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $53.54, for a total value of $2,012,461.52. Following the sale, the insider now directly owns 380,834 shares of the company’s stock, valued at $20,389,852.36. The disclosure for this sale can be found here. Insiders sold a total of 254,539 shares of company stock worth $13,597,221 over the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

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.