Dynamic Technology Lab Private Ltd Acquires 19,444 Shares of Pure Storage, Inc. (NYSE:PSTG)

Dynamic Technology Lab Private Ltd increased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 53.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,818 shares of the technology company’s stock after acquiring an additional 19,444 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Pure Storage were worth $2,804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its holdings in 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 acquiring an additional 161 shares in the last quarter. Larson Financial Group LLC raised its stake 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 valued at $28,000 after purchasing an additional 306 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Pure Storage in the third quarter worth $31,000. FSC Wealth Advisors LLC acquired a new stake in Pure Storage during the second quarter worth $33,000. Finally, City State Bank increased its holdings in Pure Storage by 175.0% in the 2nd quarter. City State Bank now owns 550 shares of the technology company’s stock valued at $35,000 after buying an additional 350 shares during the period. Institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PSTG shares. Lake Street Capital reduced their price objective on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, August 29th. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Oppenheimer assumed 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. Wedbush restated an “outperform” rating and set a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. Finally, TD Cowen lowered their price target on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $67.95.

Pure Storage Stock Performance

Shares of Pure Storage stock opened at $51.66 on Monday. 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 firm has a 50 day simple moving average of $51.70 and a 200 day simple moving average of $56.89. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The firm has a market cap of $16.93 billion, a P/E ratio of 129.15, a P/E/G ratio of 7.01 and a beta of 1.10.

Pure Storage (NYSE:PSTG) last released 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 during the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. Sell-side analysts predict that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Mona Chu sold 25,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the transaction, the chief accounting officer now owns 96,639 shares of the company’s stock, valued at $4,862,874.48. This represents a 20.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now directly owns 94,446 shares of the company’s stock, valued at approximately $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 three months, insiders sold 354,542 shares of company stock valued at $18,599,030. 6.00% of the stock is currently owned by insiders.

Pure Storage 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.