Townsquare Capital LLC Buys 6,806 Shares of Pure Storage, Inc. (NYSE:PSTG)

Townsquare Capital LLC grew its stake in Pure Storage, Inc. (NYSE:PSTG) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,444 shares of the technology company’s stock after purchasing an additional 6,806 shares during the quarter. Townsquare Capital LLC’s holdings in Pure Storage were worth $3,690,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV raised its holdings in Pure Storage by 61.2% in the 2nd 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 increased its stake 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 acquired a new stake in Pure Storage during the 3rd quarter worth approximately $31,000. FSC Wealth Advisors LLC bought a new stake in Pure Storage in the 2nd quarter valued at $33,000. Finally, City State Bank grew its holdings in Pure Storage by 175.0% in the 2nd quarter. City State Bank now owns 550 shares of the technology company’s stock valued at $35,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PSTG shares. Guggenheim lifted their target price on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Northland Securities reissued a “market perform” rating and issued a $59.00 price objective (down previously from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Stifel Nicolaus lowered their target price 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. Needham & Company LLC cut their price target on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Oppenheimer initiated coverage on Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.95.

Insider Buying and Selling at Pure Storage

In other news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the sale, the executive now owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. This represents a 8.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of Pure Storage 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 completion of the transaction, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. This represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 354,542 shares of company stock worth $18,599,030. 6.00% of the stock is currently owned by company insiders.

Pure Storage Price Performance

Shares of PSTG opened at $52.99 on Friday. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The stock has a market cap of $17.36 billion, a PE ratio of 132.48, a PEG ratio of 7.18 and a beta of 1.10. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The business has a 50-day simple moving average of $52.06 and a two-hundred day simple moving average of $56.82.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $756.59 million. Analysts anticipate that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

Pure Storage 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.