Avior Wealth Management LLC Buys 2,100 Shares of Pure Storage, Inc. (NYSE:PSTG)

Avior Wealth Management LLC raised its stake in Pure Storage, Inc. (NYSE:PSTG) by 31.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,837 shares of the technology company’s stock after acquiring an additional 2,100 shares during the period. Avior Wealth Management LLC’s holdings in Pure Storage were worth $315,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in shares of Pure Storage during the third quarter worth $28,000. Parkside Financial Bank & Trust bought a new stake in shares of Pure Storage during the first quarter worth $33,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Pure Storage during the fourth quarter worth $45,000. Penserra Capital Management LLC bought a new stake in shares of Pure Storage during the first quarter worth $47,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Pure Storage by 53.3% during the third quarter. First Horizon Advisors Inc. now owns 1,380 shares of the technology company’s stock worth $49,000 after purchasing an additional 480 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Trading Down 4.6 %

NYSE:PSTG opened at $49.46 on Friday. Pure Storage, Inc. has a 1-year low of $22.14 and a 1-year high of $58.46. The business’s 50-day moving average price is $50.02 and its two-hundred day moving average price is $41.17. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $16.07 billion, a price-to-earnings ratio of 290.96, a PEG ratio of 6.73 and a beta of 1.15.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.10. The firm had revenue of $789.81 million for the quarter, compared to analyst estimates of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. On average, equities analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on PSTG shares. Citigroup started coverage on Pure Storage in a report on Friday, March 15th. They set a “buy” rating and a $65.00 target price on the stock. KeyCorp increased their target price on Pure Storage from $51.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Morgan Stanley upped their price target on Pure Storage from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. TD Cowen upped their price target on Pure Storage from $42.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Barclays upped their price target on Pure Storage from $42.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.63.

Insider Transactions at Pure Storage

In other news, Director Scott Dietzen sold 147,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $53.49, for a total transaction of $7,863,030.00. Following the sale, the director now owns 100,000 shares of the company’s stock, valued at $5,349,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO P. Kevan Krysler sold 15,286 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total transaction of $807,100.80. Following the completion of the transaction, the chief financial officer now directly owns 507,824 shares in the company, valued at $26,813,107.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott Dietzen sold 147,000 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $53.49, for a total value of $7,863,030.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at $5,349,000. The disclosure for this sale can be found here. Insiders have sold a total of 286,581 shares of company stock valued at $15,266,704 over the last 90 days. 6.50% of the stock is owned by company insiders.

Pure Storage Company Profile

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.