Menard Financial Group LLC Trims Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Menard Financial Group LLC reduced its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 5.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,289 shares of the technology company’s stock after selling 585 shares during the quarter. Menard Financial Group LLC’s holdings in Pure Storage were worth $467,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PSTG. Massmutual Trust Co. FSB ADV grew its position 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 lifted its holdings in shares of 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 last quarter. ORG Wealth Partners LLC purchased a new position in Pure Storage in the third quarter worth $31,000. FSC Wealth Advisors LLC purchased a new position in Pure Storage in the second quarter worth $33,000. Finally, ORG Partners LLC purchased a new stake in Pure Storage during the second quarter valued at about $35,000. 83.42% of the stock is owned by institutional investors.

Pure Storage Stock Performance

PSTG opened at $53.51 on Wednesday. The company has a 50 day simple moving average of $52.19 and a two-hundred day simple moving average of $56.72. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The firm has a market cap of $17.53 billion, a P/E ratio of 133.76, a PEG ratio of 7.20 and a beta of 1.13. Pure Storage, Inc. has a 1-year low of $31.79 and a 1-year high of $70.41.

Insider Activity at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the completion of the transaction, the insider now owns 300,000 shares in the company, valued at approximately $17,196,000. This represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction on Wednesday, September 25th. The shares were 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 owns 96,639 shares in the company, valued at approximately $4,862,874.48. This represents a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 354,542 shares of company stock worth $18,599,030. 6.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent research reports. Oppenheimer assumed coverage on Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price objective on the stock. Stifel Nicolaus decreased their price target on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. Piper Sandler lowered their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. William Blair reissued an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Finally, Wedbush restated an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.95.

Pure Storage 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.