EFG Asset Management Americas Corp. Purchases 10,622 Shares of Pure Storage, Inc. $PSTG

EFG Asset Management Americas Corp. boosted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 39.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,569 shares of the technology company’s stock after purchasing an additional 10,622 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Pure Storage were worth $2,163,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PSTG. Mechanics Financial Corp purchased a new position in shares of Pure Storage in the second quarter worth $25,000. True Wealth Design LLC increased its holdings in Pure Storage by 402.8% in the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock valued at $32,000 after acquiring an additional 439 shares during the last quarter. SouthState Corp lifted its stake in Pure Storage by 474.8% in the 2nd quarter. SouthState Corp now owns 592 shares of the technology company’s stock worth $34,000 after purchasing an additional 489 shares in the last quarter. REAP Financial Group LLC boosted its holdings in shares of Pure Storage by 49.0% during the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after purchasing an additional 201 shares during the last quarter. Finally, Ramirez Asset Management Inc. boosted its holdings in shares of Pure Storage by 40.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 200 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Mona Chu sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $76.51, for a total transaction of $1,338,925.00. Following the transaction, the chief accounting officer directly owned 138,899 shares of the company’s stock, valued at approximately $10,627,162.49. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Roxanne Taylor sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.93, for a total value of $230,790.00. Following the completion of the sale, the director owned 16,343 shares of the company’s stock, valued at $1,257,266.99. The trade was a 15.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 443,111 shares of company stock worth $36,793,439. 5.60% of the stock is owned by company insiders.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $81.95 on Thursday. The company has a market cap of $26.93 billion, a P/E ratio of 199.88, a PEG ratio of 8.99 and a beta of 1.24. The firm has a 50-day simple moving average of $89.42 and a two-hundred day simple moving average of $69.07. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $763.77 million during the quarter. As a group, equities research analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PSTG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pure Storage in a report on Wednesday, October 8th. Wedbush raised their price target on Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Lake Street Capital upped their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Guggenheim raised their target price on shares of Pure Storage from $93.00 to $105.00 and gave the company a “buy” rating in a report on Friday, September 26th. Finally, Citigroup upped their price target on shares of Pure Storage from $81.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.61.

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.