Cwm LLC Has $219,000 Holdings in Pure Storage, Inc. (NYSE:PSTG)

Cwm LLC grew its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 30.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,145 shares of the technology company’s stock after purchasing an additional 1,435 shares during the quarter. Cwm LLC’s holdings in Pure Storage were worth $219,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Naples Money Management LLC acquired a new stake in Pure Storage in the 4th quarter valued at $25,000. Allspring Global Investments Holdings LLC acquired a new position in Pure Storage during the 4th quarter valued at about $45,000. First Horizon Advisors Inc. increased its holdings in Pure Storage by 53.3% during the 3rd 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 in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Pure Storage in the fourth quarter worth approximately $67,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Pure Storage by 48.5% in the fourth quarter. Fifth Third Bancorp now owns 2,227 shares of the technology company’s stock valued at $79,000 after purchasing an additional 727 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In related news, insider Ajay Singh sold 37,588 shares of Pure Storage stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $53.54, for a total value of $2,012,461.52. Following the completion of the transaction, the insider now directly owns 380,834 shares in the company, valued at approximately $20,389,852.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Pure Storage news, insider Ajay Singh sold 37,588 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $53.54, for a total value of $2,012,461.52. Following the completion of the transaction, the insider now directly owns 380,834 shares of the company’s stock, valued at approximately $20,389,852.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Scott Dietzen sold 147,000 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $53.49, for a total transaction of $7,863,030.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $5,349,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 286,581 shares of company stock worth $15,266,704. Corporate insiders own 6.50% of the company’s stock.

Pure Storage Stock Up 1.6 %

Pure Storage stock opened at $52.24 on Friday. Pure Storage, Inc. has a 1-year low of $22.14 and a 1-year high of $58.46. The firm has a market capitalization of $16.97 billion, a price-to-earnings ratio of 307.29, a P/E/G ratio of 6.51 and a beta of 1.15. 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 50 day simple moving average of $51.67 and a 200 day simple moving average of $42.18.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The business had revenue of $789.81 million during the quarter, compared to analyst estimates of $784.31 million. During the same period in the previous year, the business earned $0.27 EPS. Pure Storage’s revenue was down 2.5% compared to the same quarter last year. On average, analysts predict 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. Bank of America increased their target price on shares of Pure Storage from $42.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Barclays lifted their target price on shares of Pure Storage from $42.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. KeyCorp upped their target price on Pure Storage from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Citigroup initiated coverage on Pure Storage in a report on Friday, March 15th. They set a “buy” rating and a $65.00 price target on the stock. Finally, Evercore ISI upped their price objective on Pure Storage from $41.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.63.

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.