Versant Capital Management Inc Acquires 811 Shares of Pure Storage, Inc. (NYSE:PSTG)

Versant Capital Management Inc raised its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 954.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 896 shares of the technology company’s stock after purchasing an additional 811 shares during the quarter. Versant Capital Management Inc’s holdings in Pure Storage were worth $58,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. DNB Asset Management AS bought a new stake in shares of Pure Storage during the 2nd quarter valued at about $3,314,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Pure Storage by 61.2% during 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 period. First Hawaiian Bank bought a new stake in shares of Pure Storage during the 2nd quarter valued at about $1,830,000. GAMMA Investing LLC grew its stake in shares of Pure Storage by 113.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,982 shares of the technology company’s stock valued at $127,000 after purchasing an additional 1,054 shares during the period. Finally, Michael S. Ryan Inc. grew its stake in shares of Pure Storage by 4.8% during the 2nd quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company’s stock valued at $292,000 after purchasing an additional 208 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Guggenheim restated a “buy” rating and set a $72.00 price target on shares of Pure Storage in a research note on Tuesday, June 25th. JPMorgan Chase & Co. lifted their price objective on Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Barclays lifted their price objective on Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Northland Securities cut Pure Storage from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $58.00 to $68.00 in a research report on Thursday, May 30th. Finally, Evercore ISI lifted their price objective on Pure Storage from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and an average target price of $69.11.

Pure Storage Price Performance

NYSE:PSTG traded up $0.97 during trading hours on Tuesday, reaching $53.83. The stock had a trading volume of 1,813,021 shares, compared to its average volume of 4,025,754. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 2.00. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The company has a 50 day moving average price of $62.88 and a two-hundred day moving average price of $54.56. The stock has a market capitalization of $17.51 billion, a PE ratio of 194.21, a PEG ratio of 5.72 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last released 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. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. The business had revenue of $693.48 million for the quarter, compared to the consensus estimate of $681.37 million. As a group, sell-side analysts anticipate that Pure Storage, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mallun Yen sold 4,818 shares of the business’s 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 transaction, the director now owns 35,498 shares of the company’s stock, valued at approximately $2,299,560.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO P. Kevan Krysler sold 14,296 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $63.79, for a total transaction of $911,941.84. Following the transaction, the chief financial officer now owns 518,623 shares of the company’s stock, valued at approximately $33,082,961.17. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mallun Yen sold 4,818 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $64.78, for a total value of $312,110.04. Following the transaction, the director now directly owns 35,498 shares in the company, valued at approximately $2,299,560.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,114 shares of company stock valued at $7,174,052. 6.00% of the stock is currently owned by insiders.

About Pure Storage

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.