Stanley Laman Group Ltd. Buys 3,211 Shares of Pure Storage, Inc. (NYSE:PSTG)

Stanley Laman Group Ltd. raised its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,712 shares of the technology company’s stock after acquiring an additional 3,211 shares during the period. Stanley Laman Group Ltd.’s holdings in Pure Storage were worth $3,904,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in shares of Pure Storage by 61.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after purchasing an additional 161 shares during the period. Larson Financial Group LLC grew its holdings in Pure Storage by 242.9% in the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after buying an additional 306 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Pure Storage during the 1st quarter worth $25,000. FSC Wealth Advisors LLC acquired a new stake in shares of Pure Storage during the second quarter worth $33,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Pure Storage during the first quarter worth $27,000. Institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PSTG. UBS Group decreased their price target on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Needham & Company LLC decreased their target price on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and set a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. Guggenheim boosted their price target on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Piper Sandler reduced their price target on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.05.

Pure Storage Stock Down 7.9 %

Shares of NYSE PSTG opened at $52.99 on Wednesday. The company has a market cap of $17.36 billion, a price-to-earnings ratio of 132.48, a PEG ratio of 8.95 and a beta of 1.11. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The stock has a 50-day moving average price of $53.02 and a two-hundred day moving average price of $56.99.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (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 analyst estimates of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. As a group, analysts forecast that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $52.39, for a total transaction of $5,239,000.00. Following the sale, the insider now owns 800,000 shares of the company’s stock, valued at $41,912,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the transaction, the executive now directly owns 94,446 shares in the company, valued at approximately $4,785,578.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, August 5th. The stock was sold at an average price of $52.39, for a total transaction of $5,239,000.00. Following the transaction, the insider now owns 800,000 shares in the company, valued at approximately $41,912,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 454,542 shares of company stock worth $24,282,030. Corporate insiders own 6.00% of the company’s stock.

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.