Menard Financial Group LLC Boosts Position in Pure Storage, Inc. (NYSE:PSTG)

Menard Financial Group LLC increased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 16.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,874 shares of the technology company’s stock after acquiring an additional 1,365 shares during the quarter. Menard Financial Group LLC’s holdings in Pure Storage were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in Pure Storage in the 1st quarter valued at about $25,000. Fidelis Capital Partners LLC purchased a new stake in shares of Pure Storage during the 1st quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV lifted its holdings in 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 acquiring an additional 161 shares during the last quarter. Larson Financial Group LLC grew its position in Pure Storage by 242.9% in the second 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. Finally, Principal Securities Inc. acquired a new stake in Pure Storage during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other news, CRO Dan Fitzsimons sold 9,881 shares of Pure Storage stock in a transaction on Friday, July 19th. The shares were sold at an average price of $59.32, for a total transaction of $586,140.92. Following the completion of the sale, the executive now directly owns 115,601 shares of the company’s stock, valued at approximately $6,857,451.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CRO Dan Fitzsimons sold 9,881 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $59.32, for a total transaction of $586,140.92. Following the sale, the executive now owns 115,601 shares of the company’s stock, valued at approximately $6,857,451.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total value of $6,176,000.00. Following the sale, the insider now owns 700,000 shares of the company’s stock, valued at approximately $43,232,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 324,177 shares of company stock valued at $18,863,083. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Up 1.3 %

Shares of NYSE:PSTG opened at $48.90 on Monday. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The firm’s 50 day moving average price is $57.26 and its 200 day moving average price is $57.21. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The stock has a market cap of $15.90 billion, a price-to-earnings ratio of 174.64, a price-to-earnings-growth ratio of 7.40 and a beta of 1.11.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent analyst reports. Piper Sandler decreased their price target on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Bank of America increased their target price on shares of Pure Storage from $57.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. TD Cowen dropped their price target on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Stifel Nicolaus decreased their price objective on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. Finally, Citigroup dropped their target price 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and an average price target of $66.95.

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.