Zacks Investment Management Has $21.99 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Zacks Investment Management lifted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 13.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 437,691 shares of the technology company’s stock after buying an additional 51,023 shares during the period. Zacks Investment Management owned about 0.13% of Pure Storage worth $21,990,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cetera Investment Advisers raised its holdings in shares of Pure Storage by 284.9% during the first quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock worth $2,901,000 after acquiring an additional 41,305 shares in the last quarter. Cetera Advisors LLC raised its position in Pure Storage by 3.0% during the first quarter. Cetera Advisors LLC now owns 19,214 shares of the technology company’s stock valued at $999,000 after acquiring an additional 555 shares in the last quarter. CWM LLC grew its position in Pure Storage by 37.0% in the second quarter. CWM LLC now owns 8,252 shares of the technology company’s stock worth $530,000 after acquiring an additional 2,228 shares in the last quarter. Friedenthal Financial bought a new position in shares of Pure Storage during the 2nd quarter valued at $712,000. Finally, Bank Pictet & Cie Asia Ltd. bought a new stake in Pure Storage in the second quarter worth $336,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Performance

NYSE:PSTG opened at $64.92 on Friday. Pure Storage, Inc. has a 12-month low of $31.90 and a 12-month high of $70.41. The firm has a market capitalization of $21.27 billion, a PE ratio of 170.85, a price-to-earnings-growth ratio of 8.87 and a beta of 1.13. The firm has a 50-day moving average price of $53.04 and a 200 day moving average price of $56.83. The company has a quick ratio of 1.96, a current ratio of 1.77 and a debt-to-equity ratio of 0.07.

Insider Buying and Selling

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total value of $6,555,000.00. Following the transaction, the insider now owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the transaction, the executive now owns 94,446 shares in the company, valued at approximately $4,785,578.82. This trade represents a 8.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 454,542 shares of company stock worth $25,154,030 in the last 90 days. 6.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Evercore ISI upped their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday. Susquehanna restated a “positive” rating and issued a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. Stifel Nicolaus lifted their target price on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, 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 report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and an average target price of $72.10.

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.