Cwm LLC Purchases 30,600 Shares of Pure Storage, Inc. $PSTG

Cwm LLC raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 86.8% during the third quarter, HoldingsChannel.com reports. The firm owned 65,873 shares of the technology company’s stock after acquiring an additional 30,600 shares during the quarter. Cwm LLC’s holdings in Pure Storage were worth $5,521,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Mechanics Financial Corp bought a new stake in shares of Pure Storage during the second quarter worth approximately $25,000. True Wealth Design LLC grew its holdings in Pure Storage by 402.8% during the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock worth $32,000 after acquiring an additional 439 shares during the period. SouthState Corp raised its position in shares of Pure Storage by 474.8% during the 2nd quarter. SouthState Corp now owns 592 shares of the technology company’s stock valued at $34,000 after acquiring an additional 489 shares during the last quarter. REAP Financial Group LLC raised its position in shares of Pure Storage by 49.0% during the 2nd 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 during the last quarter. Finally, Ramirez Asset Management Inc. lifted its stake in shares of Pure Storage by 40.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $71.31, for a total transaction of $7,131,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ajay Singh sold 7,178 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $14,441,209.74. The trade was a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 307,178 shares of company stock worth $26,020,931 over the last three months. Insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PSTG. Citigroup dropped their price objective on Pure Storage from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, December 3rd. JPMorgan Chase & Co. decreased their target price on Pure Storage from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Pure Storage in a research report on Wednesday, December 3rd. Wells Fargo & Company lifted their price objective on shares of Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Finally, Raymond James Financial upped their target price on shares of Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Thirteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.26.

Pure Storage Stock Down 1.0%

NYSE:PSTG opened at $67.75 on Wednesday. The company has a market cap of $22.37 billion, a P/E ratio of 178.29, a price-to-earnings-growth ratio of 7.60 and a beta of 1.27. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $100.59. The business has a 50 day moving average price of $81.48 and a two-hundred day moving average price of $73.36.

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

About Pure Storage

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.