Brookstone Capital Management Sells 1,381 Shares of Pure Storage, Inc. (NYSE:PSTG)

Brookstone Capital Management cut its holdings in Pure Storage, Inc. (NYSE:PSTG) by 15.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,677 shares of the technology company’s stock after selling 1,381 shares during the quarter. Brookstone Capital Management’s holdings in Pure Storage were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Sycomore Asset Management purchased a new stake in Pure Storage in the 2nd quarter worth approximately $2,259,000. State of Alaska Department of Revenue purchased a new stake in Pure Storage in the first quarter worth $1,675,000. Texas Permanent School Fund Corp bought a new stake in Pure Storage in the first quarter valued at $13,514,000. Heritage Wealth Management Inc. purchased a new position in Pure Storage during the 2nd quarter valued at $721,000. Finally, Cetera Investment Advisers raised its holdings in Pure Storage by 284.9% in the 1st quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock worth $2,901,000 after purchasing an additional 41,305 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $59.50, for a total value of $5,950,000.00. Following the transaction, the insider now directly owns 900,000 shares in the company, valued at $53,550,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $59.50, for a total value of $5,950,000.00. Following the transaction, the insider now owns 900,000 shares in the company, valued at $53,550,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 564,423 shares of company stock worth $30,818,171. Insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

NYSE PSTG opened at $53.20 on Monday. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. The stock has a 50-day moving average of $53.10 and a 200 day moving average of $56.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 190.00, a PEG ratio of 8.33 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $756.59 million. On average, sell-side analysts forecast that Pure Storage, Inc. will post 0.43 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PSTG. Stifel Nicolaus reduced their price target on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, August 29th. Evercore ISI decreased their target price on Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Raymond James lowered their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Needham & Company LLC reduced 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, UBS Group lowered their price objective on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.95.

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.