23,400 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by OV Management LLC

OV Management LLC bought a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,400 shares of the technology company’s stock, valued at approximately $1,503,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Pure Storage by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock valued at $41,666,000 after purchasing an additional 28,086 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Pure Storage by 44.1% in the fourth quarter. Private Advisor Group LLC now owns 11,235 shares of the technology company’s stock worth $401,000 after buying an additional 3,437 shares in the last quarter. Quest Partners LLC bought a new position in shares of Pure Storage in the fourth quarter valued at approximately $592,000. State of Alaska Department of Revenue purchased a new position in Pure Storage during the first quarter valued at approximately $1,675,000. Finally, Texas Permanent School Fund Corp bought a new stake in Pure Storage during the 1st quarter worth approximately $13,514,000. Institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $48.92 on Friday. The company’s fifty day simple moving average is $57.26 and its two-hundred day simple moving average is $56.99. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The firm has a market cap of $15.91 billion, a PE ratio of 174.71, a price-to-earnings-growth ratio of 7.40 and a beta of 1.11. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07.

Insider Transactions at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company’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 transaction of $6,176,000.00. Following the completion of the transaction, the insider now owns 700,000 shares of the company’s stock, valued at approximately $43,232,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO P. Kevan Krysler sold 14,296 shares of Pure Storage stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $63.79, for a total transaction of $911,941.84. Following the sale, the chief financial officer now owns 518,623 shares of the company’s stock, valued at approximately $33,082,961.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the completion of the transaction, the insider now directly owns 700,000 shares of the company’s stock, valued at $43,232,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 324,177 shares of company stock worth $18,863,083. Company insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

PSTG has been the topic of several research analyst reports. Evercore ISI decreased their price target on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. Piper Sandler decreased their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Lake Street Capital dropped their target price on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Guggenheim reissued a “buy” rating and issued a $72.00 price target on shares of Pure Storage in a report on Tuesday, June 25th. One equities research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.