286,019 Shares in Pure Storage, Inc. (NYSE:PSTG) Purchased by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 286,019 shares of the technology company’s stock, valued at approximately $10,199,000. Pure Storage accounts for approximately 2.1% of Moss Adams Wealth Advisors LLC’s portfolio, making the stock its 8th biggest holding. Moss Adams Wealth Advisors LLC owned approximately 0.09% of Pure Storage at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Sei Investments Co. increased its position in shares of Pure Storage by 19.7% in the 3rd quarter. Sei Investments Co. now owns 464,256 shares of the technology company’s stock valued at $16,537,000 after acquiring an additional 76,421 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Pure Storage by 11.4% during the third quarter. William Blair Investment Management LLC now owns 687,600 shares of the technology company’s stock worth $24,492,000 after purchasing an additional 70,620 shares during the period. Weil Company Inc. purchased a new stake in Pure Storage in the third quarter valued at approximately $433,000. Sequoia Financial Advisors LLC purchased a new position in Pure Storage during the 4th quarter worth approximately $514,000. Finally, Mackenzie Financial Corp increased its stake in shares of Pure Storage by 13.2% in the fourth quarter. Mackenzie Financial Corp now owns 533,530 shares of the technology company’s stock worth $19,026,000 after acquiring an additional 62,274 shares during the period. Institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PSTG. Evercore ISI boosted their price target on Pure Storage from $41.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. TD Cowen raised their target price on Pure Storage from $42.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Bank of America increased their target price on shares of Pure Storage from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Stifel Nicolaus upped their price target on Pure Storage from $41.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, February 29th. Finally, Citigroup initiated coverage on Pure Storage in a research note on Friday, March 15th. They issued a “buy” rating and a $65.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.63.

Pure Storage Price Performance

PSTG stock traded up $0.27 on Wednesday, reaching $53.45. 1,492,040 shares of the company’s stock were exchanged, compared to its average volume of 4,348,616. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. Pure Storage, Inc. has a twelve month low of $22.57 and a twelve month high of $58.46. The firm has a market cap of $17.37 billion, a PE ratio of 314.43, a P/E/G ratio of 6.78 and a beta of 1.15. The stock has a fifty day moving average of $52.61 and a 200-day moving average of $42.76.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10. The firm had revenue of $789.81 million during the quarter, compared to analysts’ expectations of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. As a group, equities analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Activity at Pure Storage

In other Pure Storage news, CFO P. Kevan Krysler sold 15,286 shares of the company’s 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 owns 507,824 shares in the company, valued at approximately $26,813,107.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CRO Dan Fitzsimons sold 29,283 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the sale, the executive now owns 138,105 shares in the company, valued at $7,200,794.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO P. Kevan Krysler sold 15,286 shares of Pure Storage stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total value of $807,100.80. Following the sale, the chief financial officer now directly owns 507,824 shares in the company, valued at approximately $26,813,107.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 286,581 shares of company stock worth $15,266,704. 6.50% of the stock is owned by company insiders.

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.