Sheaff Brock Investment Advisors LLC Has $1.98 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Sheaff Brock Investment Advisors LLC increased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 12.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,323 shares of the technology company’s stock after buying an additional 4,293 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Pure Storage were worth $1,976,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSTG. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after purchasing an additional 161 shares in the last quarter. Larson Financial Group LLC grew 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 acquiring an additional 306 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Pure Storage in the 3rd quarter valued at about $31,000. FSC Wealth Advisors LLC bought a new position in Pure Storage in the 2nd quarter valued at about $33,000. Finally, City State Bank lifted its position in shares of Pure Storage by 175.0% during the 2nd quarter. City State Bank now owns 550 shares of the technology company’s stock worth $35,000 after buying an additional 350 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Pure Storage

In related news, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 96,639 shares in the company, valued at $4,862,874.48. This represents a 20.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction dated 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. This represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 454,542 shares of company stock worth $24,775,030. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Raymond James reduced their price target on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Northland Securities reiterated 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. Oppenheimer started coverage on shares of Pure Storage in a research report on Wednesday. They set an “outperform” rating and a $70.00 price objective for the company. Citigroup dropped their price objective on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Needham & Company LLC decreased their target price on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.15.

Pure Storage Trading Down 1.1 %

Shares of Pure Storage stock opened at $49.26 on Friday. The company has a market cap of $16.14 billion, a price-to-earnings ratio of 124.53, a PEG ratio of 7.93 and a beta of 1.10. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41. The company’s fifty day simple moving average is $51.31 and its 200-day simple moving average is $56.95. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The firm had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. As a group, sell-side analysts expect that Pure Storage, Inc. will post 0.42 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.