13,509 Shares in Pure Storage, Inc. $PSTG Bought by Krilogy Financial LLC

Krilogy Financial LLC acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,509 shares of the technology company’s stock, valued at approximately $1,132,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PSTG. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Pure Storage by 96.3% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,166 shares of the technology company’s stock valued at $2,612,000 after buying an additional 15,286 shares during the last quarter. AlTi Global Inc. bought a new stake in shares of Pure Storage during the 3rd quarter worth approximately $2,517,000. Merit Financial Group LLC boosted its holdings in Pure Storage by 145.6% during the 3rd quarter. Merit Financial Group LLC now owns 25,943 shares of the technology company’s stock valued at $2,174,000 after acquiring an additional 15,382 shares during the period. Oak Thistle LLC bought a new position in Pure Storage in the 3rd quarter valued at $1,653,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in Pure Storage by 11.8% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 173,130 shares of the technology company’s stock valued at $14,510,000 after acquiring an additional 18,256 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. TD Cowen reiterated a “buy” rating on shares of Pure Storage in a research report on Wednesday, December 3rd. Lake Street Capital raised their price target on shares of Pure Storage from $80.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Raymond James Financial boosted their price objective on shares of Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Evercore restated an “outperform” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Finally, Oppenheimer initiated coverage on shares of Pure Storage in a research report on Monday, November 17th. They set an “outperform” rating and a $120.00 target price on the stock. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.26.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $70.79 on Friday. The stock has a market cap of $23.37 billion, a price-to-earnings ratio of 186.30, a PEG ratio of 5.92 and a beta of 1.27. The firm’s 50-day moving average is $70.23 and its two-hundred day moving average is $76.48. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, December 2nd. The technology company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The business had revenue of $964.45 million during the quarter, compared to analyst estimates of $955.60 million. During the same quarter in the previous year, the business posted $0.50 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction 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 accessible through the SEC website. Also, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction on Tuesday, December 23rd. The shares were 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 in the company, valued at $14,441,209.74. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is owned by corporate insiders.

Pure Storage 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.