137,143 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 137,143 shares of the technology company's stock, valued at approximately $6,890,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. raised its position in shares of Pure Storage by 7.1% in the third quarter. QRG Capital Management Inc. now owns 13,978 shares of the technology company's stock valued at $702,000 after buying an additional 922 shares during the last quarter. National Pension Service grew its position in shares of Pure Storage by 8.9% in the third quarter. National Pension Service now owns 558,159 shares of the technology company's stock valued at $28,042,000 after purchasing an additional 45,559 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Pure Storage by 399.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 322,586 shares of the technology company's stock valued at $16,207,000 after purchasing an additional 258,044 shares during the last quarter. Nvwm LLC increased its stake in shares of Pure Storage by 23.3% during the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company's stock valued at $52,000 after acquiring an additional 194 shares during the last quarter. Finally, Emerald Advisers LLC raised its holdings in shares of Pure Storage by 39.2% in the 3rd quarter. Emerald Advisers LLC now owns 5,935 shares of the technology company's stock worth $298,000 after purchasing an additional 1,670 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Pure Storage Stock Up 3.0 %

Shares of NYSE:PSTG traded up $1.48 during trading on Tuesday, reaching $51.20. 1,150,713 shares of the company traded hands, compared to its average volume of 3,675,634. The firm has a fifty day simple moving average of $51.40 and a 200 day simple moving average of $56.95. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. 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 $16.78 billion, a P/E ratio of 126.60, a price-to-earnings-growth ratio of 7.99 and a beta of 1.10.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.10. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. The firm had revenue of $763.77 million for the quarter, compared to the consensus estimate of $756.59 million. Analysts anticipate that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of the company's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the completion of the sale, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider John Colgrove sold 100,000 shares of the company's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the completion of the sale, the insider now directly owns 500,000 shares of the company's stock, valued at approximately $24,970,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mona Chu sold 20,647 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $51.50, for a total value of $1,063,320.50. Following the completion of the sale, the chief accounting officer now directly owns 75,992 shares of the company's stock, valued at $3,913,588. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 454,542 shares of company stock worth $24,775,030. Insiders own 6.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on PSTG shares. Raymond James decreased 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. Stifel Nicolaus decreased their price target on Pure Storage from $65.00 to $60.00 and set a "hold" rating for the company in a research note on Thursday, August 29th. Citigroup cut their price objective on Pure Storage from $75.00 to $67.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Needham & Company LLC lowered their price target on Pure Storage from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, August 29th. Finally, UBS Group reduced their price objective on Pure Storage from $47.00 to $45.00 and set a "sell" rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $68.05.

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.