Sara Bay Financial Purchases 638 Shares of Pure Storage, Inc. (NYSE:PSTG)

Sara Bay Financial increased its stake in Pure Storage, Inc. (NYSE:PSTG – Get Rating) by 0.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 209,310 shares of the technology company’s stock after acquiring an additional 638 shares during the quarter. Pure Storage makes up 3.2% of Sara Bay Financial’s holdings, making the stock its 10th largest holding. Sara Bay Financial’s holdings in Pure Storage were worth $5,601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of PSTG. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Pure Storage by 121.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,660 shares of the technology company’s stock worth $765,000 after acquiring an additional 11,891 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Pure Storage in the 1st quarter worth $233,000. MetLife Investment Management LLC acquired a new position in shares of Pure Storage in the 1st quarter worth $596,000. Synovus Financial Corp grew its holdings in shares of Pure Storage by 1.7% in the 1st quarter. Synovus Financial Corp now owns 43,894 shares of the technology company’s stock worth $1,547,000 after acquiring an additional 744 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Pure Storage by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,035,914 shares of the technology company’s stock worth $36,582,000 after buying an additional 6,756 shares during the period. 84.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pure Storage

In other news, Director Andrew William Fraser Brown sold 9,930 shares of Pure Storage stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $27.28, for a total value of $270,890.40. Following the transaction, the director now directly owns 45,518 shares in the company, valued at $1,241,731.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Andrew William Fraser Brown sold 9,930 shares of Pure Storage stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $27.28, for a total value of $270,890.40. Following the transaction, the director now directly owns 45,518 shares in the company, valued at $1,241,731.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO P. Kevan Krysler sold 27,679 shares of Pure Storage stock in a transaction dated Thursday, December 29th. The stock was sold at an average price of $27.06, for a total value of $748,993.74. Following the completion of the transaction, the chief financial officer now owns 480,831 shares in the company, valued at $13,011,286.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,170 shares of company stock worth $1,605,075. Company insiders own 6.80% of the company’s stock.

Pure Storage Price Performance

NYSE PSTG opened at $24.05 on Friday. Pure Storage, Inc. has a fifty-two week low of $21.90 and a fifty-two week high of $36.71. The stock’s 50-day moving average is $27.57 and its two-hundred day moving average is $28.35. The firm has a market cap of $7.28 billion, a P/E ratio of 114.52, a price-to-earnings-growth ratio of 13.97 and a beta of 1.26.

Pure Storage (NYSE:PSTG – Get Rating) last posted its earnings results on Wednesday, March 1st. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.17. Pure Storage had a return on equity of 17.48% and a net margin of 2.65%. The company had revenue of $810.21 million for the quarter, compared to analyst estimates of $811.30 million. On average, equities analysts expect that Pure Storage, Inc. will post 0.19 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. TD Cowen decreased their target price on Pure Storage from $37.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday, March 2nd. Morgan Stanley decreased their target price on Pure Storage from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Pure Storage in a research report on Thursday, March 2nd. Susquehanna raised their target price on Pure Storage from $40.00 to $44.00 in a research report on Thursday, December 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Pure Storage from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, March 2nd. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.68.

Pure Storage Profile

(Get Rating)

Pure Storage, Inc engages in the provision of flash-based storage solutions. Its technology replaces storage systems designed for mechanical disks with all-flash systems optimized end-to-end for solid-state memory. The company was founded by John Hayes and John Colgrove in October 2009 and is headquartered in Mountain View, CA.