Capital Investment Advisory Services LLC Makes New Investment in Pure Storage, Inc. $PSTG

Capital Investment Advisory Services LLC bought a new stake in Pure Storage, Inc. (NYSE:PSTG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,658 shares of the technology company’s stock, valued at approximately $642,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PSTG. Integrated Wealth Concepts LLC purchased a new position in Pure Storage in the 1st quarter valued at approximately $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Pure Storage by 129.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the technology company’s stock valued at $387,000 after acquiring an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Pure Storage by 109.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock worth $50,377,000 after buying an additional 595,307 shares during the period. Empowered Funds LLC grew its holdings in Pure Storage by 4.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock valued at $212,000 after buying an additional 194 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pure Storage in the second quarter worth $366,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Up 10.7%

Shares of PSTG opened at $71.15 on Friday. The firm has a market cap of $23.49 billion, a price-to-earnings ratio of 187.24, a PEG ratio of 5.52 and a beta of 1.27. The business’s 50 day moving average is $70.82 and its two-hundred day moving average is $76.15. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $100.59.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. The business had revenue of $763.77 million during the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. On average, equities analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Activity

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value of $481,930.92. Following the completion of the transaction, the insider owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 207,178 shares of company stock valued at $16,771,931. 5.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PSTG. JPMorgan Chase & Co. cut their price objective on Pure Storage from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 3rd. Raymond James Financial raised their target price on Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Wedbush upped their price target on Pure Storage from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. Susquehanna set a $105.00 price objective on shares of Pure Storage in a research report on Wednesday, December 3rd. Finally, Evercore reiterated an “outperform” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.26.

Pure Storage Company Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.