Larson Financial Group LLC Boosts Holdings in Pure Storage, Inc. (NYSE:PSTG)

Larson Financial Group LLC lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 49.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 644 shares of the technology company’s stock after acquiring an additional 212 shares during the period. Larson Financial Group LLC’s holdings in Pure Storage were worth $32,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PSTG. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after purchasing an additional 161 shares during the last quarter. FSC Wealth Advisors LLC acquired a new stake in shares of Pure Storage during the 2nd quarter worth $33,000. ORG Partners LLC purchased a new position in shares of Pure Storage in the 2nd quarter worth $35,000. City State Bank grew its position in Pure Storage by 175.0% during the second quarter. City State Bank now owns 550 shares of the technology company’s stock valued at $35,000 after acquiring an additional 350 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in Pure Storage during the third quarter valued at about $31,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PSTG shares. Oppenheimer initiated coverage on Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective on the stock. Northland Securities reiterated a “market perform” rating and set a $59.00 price objective (down from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. Raymond James dropped their price objective on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Piper Sandler reduced their target price on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Stifel Nicolaus lowered their price target on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.95.

Insider Activity at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 25,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 96,639 shares in the company, valued at $4,862,874.48. The trade was a 20.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the sale, the executive now directly owns 94,446 shares in the company, valued at $4,785,578.82. This trade represents a 8.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 354,542 shares of company stock valued at $18,599,030. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

Shares of Pure Storage stock opened at $52.99 on Friday. The firm has a market cap of $17.36 billion, a PE ratio of 132.48, a price-to-earnings-growth ratio of 7.18 and a beta of 1.10. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41. The firm’s 50-day simple moving average is $52.06 and its 200-day simple moving average is $56.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.41% and a net margin of 4.53%. Equities analysts forecast that Pure Storage, Inc. will post 0.42 earnings per share 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.