Quest Partners LLC Purchases Shares of 12,197 Pure Storage, Inc. (NYSE:PSTG)

Quest Partners LLC bought a new stake in Pure Storage, Inc. (NYSE:PSTG) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 12,197 shares of the technology company’s stock, valued at approximately $613,000.

Other hedge funds have also recently modified their holdings of the company. Sycomore Asset Management purchased a new stake in Pure Storage in the second quarter valued at approximately $2,259,000. MinichMacGregor Wealth Management LLC purchased a new stake in Pure Storage in the 3rd quarter valued at $6,890,000. Heritage Wealth Management Inc. acquired a new stake in Pure Storage during the 2nd quarter worth $721,000. Cetera Investment Advisers grew its position in Pure Storage by 284.9% during 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 during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in Pure Storage by 182.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 216,808 shares of the technology company’s stock valued at $11,262,000 after purchasing an additional 140,071 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the transaction, the insider now owns 300,000 shares of the company’s stock, valued at $17,196,000. The trade was a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the sale, the chief accounting officer now owns 96,639 shares in the company, valued at approximately $4,862,874.48. This trade represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 354,542 shares of company stock valued at $18,599,030 over the last three months. 6.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSTG. Northland Securities reissued a “market perform” rating and set a $59.00 price target (down previously from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Evercore ISI dropped their target price on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Guggenheim boosted their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, UBS Group reduced their target price on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.95.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $51.66 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $51.70 and its 200 day moving average price is $56.84. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The stock has a market cap of $16.93 billion, a price-to-earnings ratio of 129.15, a PEG ratio of 6.77 and a beta of 1.10.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share 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 business had revenue of $763.77 million during the quarter, compared to analysts’ expectations of $756.59 million. As a group, research analysts forecast that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

About Pure Storage

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.