JB Capital LLC Boosts Stock Position in Pure Storage, Inc. (NYSE:PSTG)

JB Capital LLC lifted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 7.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,140 shares of the technology company’s stock after purchasing an additional 1,718 shares during the quarter. JB Capital LLC’s holdings in Pure Storage were worth $1,313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSTG. Massmutual Trust Co. FSB ADV raised its holdings in shares of Pure Storage by 61.2% in the second 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 holdings 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 worth $28,000 after buying an additional 306 shares during the last quarter. FSC Wealth Advisors LLC acquired a new position in shares of Pure Storage in the 2nd quarter valued at $33,000. Fidelis Capital Partners LLC purchased a new stake in shares of Pure Storage during the 1st quarter worth about $27,000. Finally, ORG Partners LLC purchased a new position in Pure Storage during the second quarter worth approximately $35,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PSTG shares. UBS Group reduced their target price on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Guggenheim raised their price target on shares of Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Needham & Company LLC cut their price target on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Stifel Nicolaus cut their price target on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, August 29th. Finally, Piper Sandler dropped their target price on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and a consensus price target of $68.05.

Pure Storage Stock Up 0.1 %

Shares of Pure Storage stock traded up $0.08 during trading on Thursday, hitting $54.15. 231,933 shares of the stock were exchanged, compared to its average volume of 3,661,512. The stock has a market cap of $17.74 billion, a price-to-earnings ratio of 135.15, a price-to-earnings-growth ratio of 7.80 and a beta of 1.10. The firm’s 50-day moving average price is $51.08 and its 200 day moving average price is $56.95. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The business had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. As a group, analysts forecast that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total transaction of $450,709.65. Following the transaction, the executive now owns 94,446 shares of the company’s stock, valued at $4,785,578.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction 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 sale, the executive now owns 94,446 shares of the company’s stock, valued at $4,785,578.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now directly owns 500,000 shares of the company’s stock, valued at approximately $24,970,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 454,542 shares of company stock valued at $24,775,030 over the last quarter. 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.