Scissortail Wealth Management LLC Acquires Shares of 18,630 Pure Storage, Inc. (NYSE:PSTG)

Scissortail Wealth Management LLC acquired a new stake in Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 18,630 shares of the technology company’s stock, valued at approximately $664,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC grew its position in shares of Pure Storage by 31.2% during the fourth quarter. Avior Wealth Management LLC now owns 8,837 shares of the technology company’s stock worth $315,000 after purchasing an additional 2,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Pure Storage by 23.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,577 shares of the technology company’s stock valued at $3,230,000 after buying an additional 17,111 shares in the last quarter. Cookson Peirce & Co. Inc. grew its holdings in Pure Storage by 4.5% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 583,802 shares of the technology company’s stock valued at $20,818,000 after buying an additional 24,921 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Pure Storage by 13.2% during the 4th quarter. Mackenzie Financial Corp now owns 533,530 shares of the technology company’s stock valued at $19,026,000 after buying an additional 62,274 shares in the last quarter. Finally, MBM Wealth Consultants LLC grew its holdings in Pure Storage by 17.2% during the 4th quarter. MBM Wealth Consultants LLC now owns 13,744 shares of the technology company’s stock valued at $490,000 after buying an additional 2,015 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Up 1.9 %

NYSE PSTG traded up $1.01 on Wednesday, reaching $53.31. 3,654,101 shares of the stock traded hands, compared to its average volume of 2,804,948. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.80 and a current ratio of 1.83. The company has a fifty day moving average price of $49.58 and a 200-day moving average price of $40.92. The company has a market cap of $17.32 billion, a price-to-earnings ratio of 313.61, a PEG ratio of 6.79 and a beta of 1.15. Pure Storage, Inc. has a 12 month low of $22.14 and a 12 month high of $58.46.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.17 by $0.10. The firm had revenue of $789.81 million during the quarter, compared to analyst estimates of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. As a group, research analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several research analyst reports. TD Cowen raised their price target on Pure Storage from $42.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Barclays raised their price objective on Pure Storage from $42.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Stifel Nicolaus raised their price objective on Pure Storage from $41.00 to $46.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. raised their price objective on Pure Storage from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Citigroup initiated coverage on Pure Storage in a research note on Friday, March 15th. They issued a “buy” rating and a $65.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $50.53.

Insider Transactions at Pure Storage

In other news, insider Ajay Singh sold 37,588 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $53.54, for a total value of $2,012,461.52. Following the completion of the transaction, the insider now directly owns 380,834 shares of the company’s stock, valued at approximately $20,389,852.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Roxanne Taylor sold 36,860 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $53.76, for a total value of $1,981,593.60. Following the transaction, the director now directly owns 18,883 shares of the company’s stock, valued at $1,015,150.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ajay Singh sold 37,588 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $53.54, for a total value of $2,012,461.52. Following the completion of the transaction, the insider now directly owns 380,834 shares in the company, valued at $20,389,852.36. The disclosure for this sale can be found here. Corporate insiders own 6.50% of the company’s stock.

About Pure Storage

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.