EFG Asset Management Americas Corp. Acquires 10,622 Shares of Pure Storage, Inc. $PSTG

EFG Asset Management Americas Corp. boosted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 39.4% in the second quarter, Holdings Channel reports. The institutional investor owned 37,569 shares of the technology company’s stock after acquiring an additional 10,622 shares during the period. EFG Asset Management Americas Corp.’s holdings in Pure Storage were worth $2,163,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PSTG. Mechanics Financial Corp bought a new position in shares of Pure Storage in the 2nd quarter worth $25,000. True Wealth Design LLC boosted its position in Pure Storage by 402.8% during the second quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock valued at $32,000 after purchasing an additional 439 shares in the last quarter. SouthState Corp grew its stake in Pure Storage by 474.8% in the second quarter. SouthState Corp now owns 592 shares of the technology company’s stock valued at $34,000 after purchasing an additional 489 shares during the last quarter. REAP Financial Group LLC grew its stake in Pure Storage by 49.0% in the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after purchasing an additional 201 shares during the last quarter. Finally, Ramirez Asset Management Inc. raised its holdings in Pure Storage by 40.0% in the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

NYSE PSTG opened at $81.95 on Thursday. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $100.59. The company has a market cap of $26.93 billion, a PE ratio of 199.88, a price-to-earnings-growth ratio of 8.99 and a beta of 1.24. The stock’s 50 day simple moving average is $89.42 and its 200-day simple moving average is $69.07.

Pure Storage (NYSE:PSTG) last announced its earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. The company had revenue of $763.77 million for the quarter. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. On average, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Transactions at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 6,051 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total value of $528,978.42. Following the completion of the sale, the executive directly owned 62,759 shares of the company’s stock, valued at $5,486,391.78. This trade represents a 8.79% decrease in their position. The sale was disclosed in a legal 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 dated Monday, November 10th. The shares were sold at an average price of $91.59, for a total transaction of $9,159,000.00. Following the transaction, the insider directly owned 100,000 shares in the company, valued at approximately $9,159,000. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 443,111 shares of company stock valued at $36,793,439. 5.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PSTG has been the subject of several recent analyst reports. UBS Group set a $110.00 price objective on shares of Pure Storage in a research note on Tuesday, October 21st. Bank of America raised their price objective on Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Raymond James Financial upped their price target on shares of Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Needham & Company LLC boosted their price objective on Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, September 26th. Finally, Wall Street Zen raised Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $92.61.

About Pure Storage

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.