McGlone Suttner Wealth Management Inc. Acquires Shares of 4,491 Pure Storage, Inc. (NYSE:PSTG)

McGlone Suttner Wealth Management Inc. acquired a new stake in Pure Storage, Inc. (NYSE:PSTG) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 4,491 shares of the technology company’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSTG. Bank of New York Mellon Corp increased its stake in Pure Storage by 56.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock valued at $237,345,000 after buying an additional 1,327,873 shares during the last quarter. Principal Financial Group Inc. increased its stake in Pure Storage by 4,095.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,121,344 shares of the technology company’s stock valued at $58,299,000 after buying an additional 1,094,618 shares during the last quarter. Vanguard Group Inc. increased its stake in Pure Storage by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 31,294,297 shares of the technology company’s stock valued at $1,115,955,000 after buying an additional 567,358 shares during the last quarter. Retirement Systems of Alabama purchased a new stake in Pure Storage in the 1st quarter valued at about $22,399,000. Finally, American International Group Inc. increased its stake in Pure Storage by 9,131.0% in the 1st quarter. American International Group Inc. now owns 394,996 shares of the technology company’s stock valued at $20,536,000 after buying an additional 390,717 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Up 0.2 %

PSTG opened at $53.20 on Monday. The company has a fifty day moving average price of $53.10 and a 200-day moving average price of $56.87. The firm has a market capitalization of $17.30 billion, a P/E ratio of 190.00, a price-to-earnings-growth ratio of 8.33 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41.

Pure Storage (NYSE:PSTG) last released its quarterly 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 net margin of 4.53% and a return on equity of 17.41%. The firm had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. Equities research analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PSTG has been the subject of a number of research reports. Northland Securities reissued a “market perform” rating and set a $59.00 target price (down from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. UBS Group reduced their target price on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. Needham & Company LLC reduced their target price on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, TD Cowen reduced their target price 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and a consensus target price of $66.95.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the completion of the sale, the insider now directly owns 900,000 shares of the company’s stock, valued at approximately $53,550,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Pure Storage news, CAO Mona Chu sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at $4,862,874.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the completion of the sale, the insider now directly owns 900,000 shares of the company’s stock, valued at $53,550,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 564,423 shares of company stock valued at $30,818,171. Insiders own 6.00% of the company’s stock.

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.