Norden Group LLC Purchases New Stake in Pure Storage, Inc. (NYSE:PSTG)

Norden Group LLC purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the 1st quarter, Holdings Channel reports. The fund purchased 8,813 shares of the technology company’s stock, valued at approximately $458,000.

Other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. increased its position in Pure Storage by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 54,073 shares of the technology company’s stock worth $1,928,000 after purchasing an additional 242 shares during the last quarter. Lindbrook Capital LLC increased its position in Pure Storage by 295.6% in the 1st quarter. Lindbrook Capital LLC now owns 633 shares of the technology company’s stock worth $33,000 after purchasing an additional 473 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Pure Storage in the 1st quarter worth about $25,000. Brookstone Capital Management increased its position in Pure Storage by 7.3% in the 1st quarter. Brookstone Capital Management now owns 8,627 shares of the technology company’s stock worth $449,000 after purchasing an additional 584 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in Pure Storage by 5.9% in the 4th quarter. QRG Capital Management Inc. now owns 10,845 shares of the technology company’s stock worth $387,000 after purchasing an additional 600 shares during the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pure Storage

In other news, CRO Dan Fitzsimons sold 29,283 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total value of $1,526,815.62. Following the completion of the transaction, the executive now directly owns 138,105 shares of the company’s stock, valued at approximately $7,200,794.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO P. Kevan Krysler sold 15,286 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total value of $807,100.80. Following the completion of the transaction, the chief financial officer now directly owns 507,824 shares of the company’s stock, valued at approximately $26,813,107.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Dan Fitzsimons sold 29,283 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total value of $1,526,815.62. Following the completion of the transaction, the executive now directly owns 138,105 shares of the company’s stock, valued at $7,200,794.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,247 shares of company stock valued at $4,633,671. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PSTG. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of Pure Storage in a research report on Friday, June 21st. Susquehanna upped their price target on Pure Storage from $75.00 to $80.00 and gave the stock a “positive” rating in a research note on Friday, June 21st. Bank of America upped their price target on Pure Storage from $57.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. TD Cowen upped their price target on Pure Storage from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Lake Street Capital upped their price target on Pure Storage from $48.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Pure Storage has an average rating of “Moderate Buy” and an average price target of $69.11.

Pure Storage Price Performance

Shares of PSTG stock opened at $65.31 on Friday. The stock has a 50 day moving average of $62.13 and a two-hundred day moving average of $51.59. The company has a current ratio of 2.00, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The company has a market capitalization of $21.24 billion, a P/E ratio of 233.25, a P/E/G ratio of 6.57 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. The company had revenue of $693.48 million during the quarter, compared to the consensus estimate of $681.37 million. As a group, equities analysts expect that Pure Storage, Inc. will post 0.47 EPS 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.