Bank Pictet & Cie Europe AG Raises Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Bank Pictet & Cie Europe AG lifted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,202 shares of the technology company’s stock after acquiring an additional 223 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Pure Storage were worth $462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PSTG. Massmutual Trust Co. FSB ADV increased its holdings in 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 acquiring an additional 161 shares in the last quarter. Michael S. Ryan Inc. raised its position 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 worth $292,000 after purchasing an additional 208 shares during the last quarter. Franklin Resources Inc. lifted its stake in Pure Storage by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 54,073 shares of the technology company’s stock valued at $1,928,000 after buying an additional 242 shares in the last quarter. City State Bank grew its holdings in Pure Storage by 175.0% during 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 last quarter. Finally, DecisionPoint Financial LLC increased its position in Pure Storage by 53.3% during the first quarter. DecisionPoint Financial LLC now owns 1,150 shares of the technology company’s stock worth $61,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PSTG shares. Piper Sandler initiated coverage on shares of Pure Storage in a research note on Monday, August 19th. They set a “neutral” rating and a $60.00 price target on the stock. StockNews.com upgraded Pure Storage from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Wedbush restated an “outperform” rating and set a $70.00 price objective (up previously from $50.00) on shares of Pure Storage in a report on Tuesday, May 28th. Northland Capmk lowered Pure Storage from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. raised their price target on Pure Storage from $50.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.65.

Insider Activity at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the sale, the insider now directly owns 700,000 shares in the company, valued at $43,232,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Pure Storage news, CRO Dan Fitzsimons sold 9,881 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $59.32, for a total transaction of $586,140.92. Following the completion of the transaction, the executive now directly owns 115,601 shares of the company’s stock, valued at approximately $6,857,451.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was 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 directly owns 700,000 shares in the company, valued at approximately $43,232,000. The disclosure for this sale can be found here. Insiders have sold a total of 328,995 shares of company stock worth $19,175,193 in the last three months. 6.00% of the stock is owned by company insiders.

Pure Storage Stock Performance

NYSE PSTG traded up $0.61 during trading hours on Friday, reaching $61.56. The company’s stock had a trading volume of 2,382,566 shares, compared to its average volume of 3,869,910. The company has a current ratio of 2.00, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $61.51 and a 200 day simple moving average of $56.22. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The stock has a market cap of $20.02 billion, a PE ratio of 219.86, a PEG ratio of 6.29 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, May 29th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. The firm had revenue of $693.48 million for the quarter, compared to analyst estimates of $681.37 million. Equities research analysts predict that Pure Storage, Inc. will post 0.47 earnings per share for the current fiscal year.

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.