Intrust Bank NA Buys 1,127 Shares of Pure Storage, Inc. $PSTG

Intrust Bank NA raised its stake in Pure Storage, Inc. (NYSE:PSTG) by 17.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,542 shares of the technology company’s stock after buying an additional 1,127 shares during the period. Intrust Bank NA’s holdings in Pure Storage were worth $434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Pure Storage Stock Performance

PSTG stock opened at $82.21 on Wednesday. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $100.59. The firm has a market cap of $27.02 billion, a price-to-earnings ratio of 200.51, a PEG ratio of 8.99 and a beta of 1.24. The firm has a 50-day simple moving average of $89.40 and a two-hundred day simple moving average of $68.98.

Pure Storage (NYSE:PSTG) last issued 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 net margin of 4.15% and a return on equity of 11.34%. The firm had revenue of $763.77 million for the quarter. As a group, equities analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Raymond James Financial upped their price objective on shares of Pure Storage from $88.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Barclays raised their target price on shares of Pure Storage from $57.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, August 29th. Bank of America upped their price target on shares of Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Finally, Morgan Stanley increased their price objective on shares of Pure Storage from $72.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and an average price target of $92.61.

Insider Buying and Selling at Pure Storage

In related news, insider Ajay Singh sold 7,014 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total transaction of $602,151.90. Following the transaction, the insider directly owned 229,307 shares in the company, valued at $19,686,005.95. The trade was a 2.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Dan Fitzsimons sold 6,051 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total value of $528,978.42. Following the transaction, the executive directly owned 62,759 shares in the company, valued at $5,486,391.78. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 443,111 shares of company stock valued at $36,793,439. Corporate insiders own 5.60% of the company’s stock.

Pure Storage 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.