Hantz Financial Services Inc. Takes $12.65 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Hantz Financial Services Inc. acquired a new position in Pure Storage, Inc. (NYSE:PSTG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 197,017 shares of the technology company’s stock, valued at approximately $12,650,000.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in Pure Storage by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock worth $41,666,000 after purchasing an additional 28,086 shares in the last quarter. Private Advisor Group LLC grew its holdings in Pure Storage by 44.1% in the fourth quarter. Private Advisor Group LLC now owns 11,235 shares of the technology company’s stock worth $401,000 after purchasing an additional 3,437 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in shares of Pure Storage by 83.9% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,068,255 shares of the technology company’s stock worth $73,733,000 after purchasing an additional 943,850 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Pure Storage in the 4th quarter worth $592,000. Finally, State of Alaska Department of Revenue purchased a new position in Pure Storage during the 1st quarter worth $1,675,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Transactions at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 9,881 shares of Pure Storage stock in a transaction on Friday, July 19th. The stock was sold at an average price of $59.32, for a total value of $586,140.92. Following the sale, the executive now owns 115,601 shares in the company, valued at $6,857,451.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.79, for a total transaction of $911,941.84. Following the transaction, the chief financial officer now directly owns 518,623 shares in the company, valued at $33,082,961.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 9,881 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $59.32, for a total value of $586,140.92. Following the transaction, the executive now owns 115,601 shares of the company’s stock, valued at $6,857,451.32. The disclosure for this sale can be found here. Insiders sold 328,995 shares of company stock worth $19,175,193 in the last 90 days. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

NYSE PSTG opened at $51.29 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 2.00. The stock’s fifty day moving average is $60.47 and its two-hundred day moving average is $56.58. The firm has a market capitalization of $16.68 billion, a P/E ratio of 183.18, a price-to-earnings-growth ratio of 6.29 and a beta of 1.11. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $693.48 million during the quarter, compared to analysts’ expectations of $681.37 million. Pure Storage had a net margin of 3.19% and a return on equity of 15.34%. On average, research analysts anticipate that Pure Storage, Inc. will post 0.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Needham & Company LLC cut their price objective on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday. KeyCorp increased their price objective on Pure Storage from $64.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Stifel Nicolaus cut their price target on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday. Piper Sandler dropped their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Citigroup lowered their price target on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and an average price target of $65.85.

About Pure Storage

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.