1834 Investment Advisors Co. Has $1.14 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

1834 Investment Advisors Co. reduced its position in Pure Storage, Inc. (NYSE:PSTG) by 20.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,755 shares of the technology company’s stock after selling 5,690 shares during the period. 1834 Investment Advisors Co.’s holdings in Pure Storage were worth $1,143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSTG. Fidelis Capital Partners LLC acquired a new stake in shares of Pure Storage in the 1st quarter valued at $27,000. Massmutual Trust Co. FSB ADV raised its holdings in Pure Storage by 61.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after buying an additional 161 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after buying an additional 306 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Pure Storage during the 3rd quarter worth about $31,000. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Pure Storage during the 2nd quarter valued at about $33,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PSTG shares. Northland Securities restated a “market perform” rating and issued a $59.00 target price (down from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Stifel Nicolaus decreased their price objective on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, August 29th. Raymond James dropped their target price on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Citigroup decreased their price target on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, TD Cowen dropped their price objective on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.05.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the completion of the sale, the insider now directly owns 700,000 shares of the company’s stock, valued at $43,232,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total value of $6,176,000.00. Following the completion of the sale, the insider now owns 700,000 shares in the company, valued at approximately $43,232,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the sale, the chief accounting officer now directly owns 96,639 shares in the company, valued at $4,862,874.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 454,542 shares of company stock worth $24,775,030. Insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

Pure Storage stock opened at $51.16 on Wednesday. The business has a 50 day simple moving average of $51.20 and a 200 day simple moving average of $56.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The company has a market capitalization of $16.76 billion, a PE ratio of 127.90, a price-to-earnings-growth ratio of 7.99 and a beta of 1.10. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.10 by $0.10. The company had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. On average, sell-side analysts forecast that Pure Storage, Inc. will post 0.43 EPS for the current fiscal 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.