Sequoia Financial Advisors LLC Purchases Shares of 14,417 Pure Storage, Inc. (NYSE:PSTG)

Sequoia Financial Advisors LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,417 shares of the technology company’s stock, valued at approximately $514,000.

A number of other institutional investors have also recently made changes to their positions in PSTG. Norges Bank bought a new stake in shares of Pure Storage during the 4th quarter valued at about $90,143,000. Price T Rowe Associates Inc. MD boosted its position in shares of Pure Storage by 24.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,091,077 shares of the technology company’s stock valued at $359,464,000 after purchasing an additional 2,807,489 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Pure Storage by 5,725.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,614,837 shares of the technology company’s stock valued at $57,520,000 after purchasing an additional 1,587,116 shares in the last quarter. Spyglass Capital Management LLC bought a new stake in shares of Pure Storage during the 4th quarter valued at about $36,678,000. Finally, Acadian Asset Management LLC boosted its position in shares of Pure Storage by 61.5% during the 3rd quarter. Acadian Asset Management LLC now owns 3,399,759 shares of the technology company’s stock valued at $121,081,000 after purchasing an additional 1,294,285 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 37,588 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the completion of the transaction, the insider now directly owns 380,834 shares of the company’s stock, valued at $20,389,852.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Pure Storage news, insider Ajay Singh sold 37,588 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the completion of the transaction, the insider now directly owns 380,834 shares of the company’s stock, valued at $20,389,852.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roxanne Taylor sold 36,860 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $53.76, for a total value of $1,981,593.60. Following the transaction, the director now directly owns 18,883 shares of the company’s stock, valued at $1,015,150.08. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by company insiders.

Pure Storage Stock Performance

Shares of PSTG opened at $53.31 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of 313.61, a PEG ratio of 6.79 and a beta of 1.15. The stock has a 50 day moving average of $49.58 and a 200 day moving average of $40.92. Pure Storage, Inc. has a 12 month low of $22.14 and a 12 month high of $58.46.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. The company had revenue of $789.81 million during the quarter, compared to the consensus estimate of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. Pure Storage’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. As a group, sell-side analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSTG. Citigroup began coverage on Pure Storage in a research note on Friday, March 15th. They set a “buy” rating and a $65.00 price target on the stock. Barclays upped their price target on Pure Storage from $42.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. KeyCorp upped their price target on Pure Storage from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Bank of America upped their price target on Pure Storage from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Finally, Stifel Nicolaus upped their price target on Pure Storage from $41.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.53.

About Pure Storage

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.