Whittier Trust Co. of Nevada Inc. Acquires 2,397 Shares of Pure Storage, Inc. (NYSE:PSTG)

Whittier Trust Co. of Nevada Inc. grew its holdings in Pure Storage, Inc. (NYSE:PSTG) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,073 shares of the technology company’s stock after purchasing an additional 2,397 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Pure Storage were worth $3,191,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PSTG. McIlrath & Eck LLC bought a new position in shares of Pure Storage during the 4th quarter worth approximately $25,000. Crowley Wealth Management Inc. bought a new position in shares of Pure Storage during the 4th quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company’s stock worth $29,000 after acquiring an additional 233 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Pure Storage by 157.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company’s stock worth $44,000 after acquiring an additional 436 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its stake in shares of Pure Storage by 5,233.3% during the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company’s stock worth $35,000 after acquiring an additional 785 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,000 shares of the company’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $51.65, for a total value of $309,900.00. Following the sale, the executive directly owned 75,965 shares of the company’s stock, valued at $3,923,592.25. This represents a 7.32% decrease in their position. The transaction was disclosed in a legal filing 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 on Monday, May 12th. The shares were sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the completion of the sale, the insider directly owned 801,959 shares in the company, valued at $41,709,887.59. This trade represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,643 shares of company stock valued at $8,104,689 over the last quarter. Insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Pure Storage from $40.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 20th. Barclays reduced their price objective on shares of Pure Storage from $61.00 to $57.00 and set an “equal weight” rating for the company in a research note on Thursday, May 29th. Needham & Company LLC reiterated a “buy” rating and set a $75.00 price objective on shares of Pure Storage in a research note on Friday, June 20th. Evercore ISI boosted their price objective on shares of Pure Storage from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, May 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $70.00 price objective on shares of Pure Storage in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.95.

Pure Storage Price Performance

PSTG stock opened at $54.50 on Wednesday. The firm’s fifty day simple moving average is $54.64 and its 200-day simple moving average is $55.15. The company has a market capitalization of $17.81 billion, a P/E ratio of 147.30, a price-to-earnings-growth ratio of 5.16 and a beta of 1.06. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $73.67.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $778.49 million for the quarter, compared to the consensus estimate of $770.03 million. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. As a group, sell-side analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share 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.