Sheaff Brock Investment Advisors LLC Acquires 4,293 Shares of Pure Storage, Inc. (NYSE:PSTG)

Sheaff Brock Investment Advisors LLC boosted its position in Pure Storage, Inc. (NYSE:PSTG) by 12.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,323 shares of the technology company’s stock after buying an additional 4,293 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Pure Storage were worth $1,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its stake in shares of Pure Storage by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 9,179 shares of the technology company’s stock valued at $461,000 after acquiring an additional 312 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in Pure Storage by 2.4% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 13,365 shares of the technology company’s stock valued at $671,000 after purchasing an additional 316 shares during the last quarter. Sycomore Asset Management raised its position in Pure Storage by 230.5% during the 3rd quarter. Sycomore Asset Management now owns 119,034 shares of the technology company’s stock valued at $6,005,000 after purchasing an additional 83,013 shares during the last quarter. KBC Group NV raised its position in Pure Storage by 9.9% during the 3rd quarter. KBC Group NV now owns 39,277 shares of the technology company’s stock valued at $1,974,000 after purchasing an additional 3,552 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Pure Storage by 6.9% during the 3rd quarter. Victory Capital Management Inc. now owns 230,393 shares of the technology company’s stock valued at $11,575,000 after purchasing an additional 14,901 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Price Performance

Shares of PSTG opened at $49.26 on Friday. The company has a market capitalization of $16.14 billion, a P/E ratio of 124.53, a P/E/G ratio of 7.93 and a beta of 1.10. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The business’s 50-day moving average is $51.31 and its two-hundred day moving average is $56.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99.

Pure Storage (NYSE:PSTG) last posted its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The firm had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Research analysts predict that Pure Storage, Inc. will post 0.42 earnings per share for the current year.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now owns 94,446 shares of the company’s stock, valued at $4,785,578.82. This represents a 8.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the transaction, the insider now directly owns 500,000 shares of the company’s stock, valued at $24,970,000. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 454,542 shares of company stock valued at $24,775,030 over the last ninety days. Insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PSTG shares. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a research report on Thursday. Evercore ISI cut their price target on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Oppenheimer assumed coverage on Pure Storage in a research note on Wednesday. They issued an “outperform” rating and a $70.00 price target on the stock. Needham & Company LLC cut their price target on Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, TD Cowen cut their price target on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.15.

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.