137,143 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC acquired a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 137,143 shares of the technology company’s stock, valued at approximately $6,890,000.

Several other large investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC bought a new stake in shares of Pure Storage in the 1st quarter valued at $27,000. Massmutual Trust Co. FSB ADV grew its stake in 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 during the period. Larson Financial Group LLC raised its position in shares of Pure Storage by 242.9% during the second 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 bought a new position in shares of Pure Storage during the 3rd quarter valued at about $31,000. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Pure Storage in the 2nd quarter valued at approximately $33,000. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Performance

PSTG stock traded up $0.94 during trading hours on Tuesday, reaching $50.66. The stock had a trading volume of 149,207 shares, compared to its average volume of 3,671,444. The stock has a 50-day simple moving average of $51.40 and a 200 day simple moving average of $56.95. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The stock has a market capitalization of $16.60 billion, a PE ratio of 125.53, a price-to-earnings-growth ratio of 7.99 and a beta of 1.10. 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 earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.10. The business had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. Analysts predict that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Raymond James dropped their target price on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Stifel Nicolaus dropped their price objective on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Northland Securities reissued a “market perform” rating and issued a $59.00 price target (down previously from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. Finally, TD Cowen cut their price target on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock 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. Based on data from MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $68.05.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the stock in a transaction 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 in the company, valued at approximately $24,970,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the transaction, the insider now directly owns 500,000 shares of the company’s stock, valued at $24,970,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 454,542 shares of company stock worth $24,775,030. 6.00% of the stock is owned by company insiders.

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.