First Hawaiian Bank Invests $1.83 Million in Pure Storage, Inc. (NYSE:PSTG)

First Hawaiian Bank acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 28,500 shares of the technology company’s stock, valued at approximately $1,830,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSTG. Naples Money Management LLC purchased a new position in Pure Storage in the fourth quarter valued at $25,000. Banque Cantonale Vaudoise purchased a new position in Pure Storage in the first quarter valued at $25,000. Fidelis Capital Partners LLC purchased a new position in Pure Storage in the first quarter valued at $27,000. Principal Securities Inc. purchased a new position in Pure Storage in the fourth quarter valued at $31,000. Finally, Lindbrook Capital LLC increased its stake in shares of Pure Storage by 295.6% during the first quarter. Lindbrook Capital LLC now owns 633 shares of the technology company’s stock worth $33,000 after purchasing an additional 473 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, Director Mallun Yen sold 4,818 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $64.78, for a total value of $312,110.04. Following the transaction, the director now directly owns 35,498 shares in the company, valued at $2,299,560.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the transaction, the insider now directly owns 900,000 shares in the company, valued at $53,550,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mallun Yen sold 4,818 shares of Pure Storage stock in a transaction on Friday, June 7th. The shares were sold at an average price of $64.78, for a total transaction of $312,110.04. Following the completion of the transaction, the director now owns 35,498 shares in the company, valued at $2,299,560.44. The disclosure for this sale can be found here. Insiders have sold 119,114 shares of company stock worth $7,174,052 over the last three months. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Down 2.6 %

NYSE:PSTG traded down $1.40 during mid-day trading on Monday, hitting $52.89. The stock had a trading volume of 3,260,045 shares, compared to its average volume of 4,040,599. The stock has a 50-day simple moving average of $63.04 and a two-hundred day simple moving average of $54.46. The company has a market capitalization of $17.20 billion, a PE ratio of 193.89, a PEG ratio of 5.72 and a beta of 1.11. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The company has a current ratio of 2.00, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, May 29th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $693.48 million for 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, equities research analysts anticipate that Pure Storage, Inc. will post 0.47 EPS for the current year.

Wall Street Analyst Weigh In

PSTG has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of Pure Storage from $57.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Northland Securities cut shares of Pure Storage from an “outperform” rating to a “market perform” rating and upped their target price for the company from $58.00 to $68.00 in a research report on Thursday, May 30th. Wedbush reaffirmed an “outperform” rating and issued a $70.00 target price (up previously from $50.00) on shares of Pure Storage in a research report on Tuesday, May 28th. Citigroup upped their target price on shares of Pure Storage from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Lake Street Capital upped their target price on shares of Pure Storage from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.11.

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.