CW Advisors LLC Sells 43,693 Shares of Pure Storage, Inc. $PSTG

CW Advisors LLC trimmed its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 21.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 164,768 shares of the technology company’s stock after selling 43,693 shares during the quarter. CW Advisors LLC’s holdings in Pure Storage were worth $9,487,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC increased its holdings in Pure Storage by 11.8% during the 2nd quarter. Penserra Capital Management LLC now owns 1,666 shares of the technology company’s stock valued at $95,000 after purchasing an additional 176 shares during the period. Empowered Funds LLC lifted its holdings in Pure Storage by 4.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock worth $212,000 after buying an additional 194 shares during the period. Ramirez Asset Management Inc. increased its stake in shares of Pure Storage by 40.0% during the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock valued at $40,000 after buying an additional 200 shares during the period. REAP Financial Group LLC raised its holdings in shares of Pure Storage by 49.0% during the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after acquiring an additional 201 shares in the last quarter. Finally, GraniteShares Advisors LLC lifted its stake in Pure Storage by 2.6% in the second quarter. GraniteShares Advisors LLC now owns 8,001 shares of the technology company’s stock worth $461,000 after acquiring an additional 206 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ajay Singh sold 7,014 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total transaction of $602,151.90. Following the sale, the insider directly owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 6,051 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total transaction of $528,978.42. Following the sale, the executive owned 62,759 shares of the company’s stock, valued at approximately $5,486,391.78. This represents a 8.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 327,311 shares of company stock worth $29,498,100. 5.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on PSTG shares. Guggenheim boosted their price objective on shares of Pure Storage from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Lake Street Capital boosted their price target on shares of Pure Storage from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday. Susquehanna set a $105.00 price target on shares of Pure Storage in a research note on Wednesday. Piper Sandler set a $92.00 price objective on Pure Storage and gave the company an “overweight” rating in a research report on Thursday, September 25th. Finally, Wedbush upped their target price on Pure Storage from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.26.

Pure Storage Stock Up 4.7%

Shares of PSTG opened at $72.12 on Friday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59. The stock has a market cap of $23.70 billion, a P/E ratio of 189.79, a P/E/G ratio of 6.45 and a beta of 1.27. The business’s 50 day moving average price is $88.67 and its 200-day moving average price is $71.30.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. Pure Storage had a return on equity of 10.60% and a net margin of 3.74%.The business had revenue of $763.77 million during the quarter. On average, equities analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

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.