Montanaro Asset Management Ltd Boosts Holdings in Pure Storage, Inc. (NYSE:PSTG)

Montanaro Asset Management Ltd lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 64.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,050 shares of the technology company’s stock after acquiring an additional 1,200 shares during the period. Montanaro Asset Management Ltd’s holdings in Pure Storage were worth $153,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PSTG. Massmutual Trust Co. FSB ADV grew its position in Pure Storage by 61.2% during 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 during the period. Larson Financial Group LLC grew its holdings in shares of Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after purchasing an additional 306 shares during the period. ORG Wealth Partners LLC acquired a new stake in Pure Storage during the 3rd quarter worth approximately $31,000. FSC Wealth Advisors LLC acquired a new stake in Pure Storage during the 2nd quarter worth approximately $33,000. Finally, City State Bank raised its holdings in Pure Storage by 175.0% in the second 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 period. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Performance

Shares of PSTG stock opened at $52.91 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The stock has a market capitalization of $17.34 billion, a price-to-earnings ratio of 132.28, a PEG ratio of 8.48 and a beta of 1.10. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. The company’s 50-day simple moving average is $51.19 and its 200-day simple moving average is $56.94.

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

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 500,000 shares of the company’s stock, valued at $24,970,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the sale, the insider now owns 500,000 shares of the company’s stock, valued at approximately $24,970,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mona Chu sold 20,647 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $51.50, for a total value of $1,063,320.50. Following the transaction, the chief accounting officer now owns 75,992 shares of the company’s stock, valued at $3,913,588. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 454,542 shares of company stock valued at $24,775,030 over the last 90 days. 6.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PSTG. Needham & Company LLC dropped their price objective on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Raymond James lowered their price target on Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Guggenheim boosted their price objective on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. UBS Group decreased their target price on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Finally, Evercore ISI dropped their target price on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.05.

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.