Private Advisor Group LLC Sells 789 Shares of Pure Storage, Inc. (NYSE:PSTG)

Private Advisor Group LLC decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 5.5% in the 2nd quarter, Holdings Channel reports. The fund owned 13,523 shares of the technology company’s stock after selling 789 shares during the quarter. Private Advisor Group LLC’s holdings in Pure Storage were worth $868,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in Pure Storage during the 1st quarter worth about $25,000. Fidelis Capital Partners LLC purchased a new stake in Pure Storage during the 1st quarter worth about $27,000. Massmutual Trust Co. FSB ADV lifted its holdings in Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after purchasing an additional 161 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after purchasing an additional 306 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in Pure Storage during the 4th quarter worth about $31,000. Institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

PSTG opened at $49.60 on Tuesday. The stock’s 50 day simple moving average is $56.95 and its 200 day simple moving average is $57.18. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41. The firm has a market cap of $16.13 billion, a price-to-earnings ratio of 177.14, a PEG ratio of 7.49 and a beta of 1.11.

Analyst Ratings Changes

A number of analysts recently issued reports on PSTG shares. Stifel Nicolaus dropped their price objective on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. Morgan Stanley cut Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 price target on the stock. in a report on Wednesday, June 12th. Barclays raised their price target on Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Piper Sandler lowered their price target on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Lake Street Capital lowered their price target on Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.95.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the transaction, the insider now directly owns 700,000 shares in the company, valued at approximately $43,232,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the transaction, the insider now directly owns 700,000 shares in the company, valued at approximately $43,232,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO P. Kevan Krysler sold 14,296 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $63.79, for a total value of $911,941.84. Following the transaction, the chief financial officer now owns 518,623 shares in the company, valued at $33,082,961.17. The disclosure for this sale can be found here. Insiders have sold a total of 324,177 shares of company stock worth $18,863,083 in the last ninety days. 6.00% of the stock is owned by insiders.

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.