Secured Retirement Advisors LLC Makes New Investment in Pure Storage, Inc. (NYSE:PSTG)

Secured Retirement Advisors LLC purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,918 shares of the technology company's stock, valued at approximately $978,000.

A number of other large investors also recently modified their holdings of PSTG. Sugar Maple Asset Management LLC purchased a new position in Pure Storage in the 4th quarter worth $29,000. Compass Financial Services Inc bought a new position in shares of Pure Storage during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC lifted its position in shares of Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock worth $32,000 after purchasing an additional 212 shares during the period. Berbice Capital Management LLC purchased a new stake in Pure Storage in the fourth quarter worth about $37,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock valued at $38,000 after purchasing an additional 219 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on PSTG shares. Citigroup boosted their price objective on shares of Pure Storage from $63.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Barclays lifted their target price on shares of Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 4th. UBS Group upped their price target on shares of Pure Storage from $45.00 to $47.00 and gave the company a "sell" rating in a research report on Wednesday, December 4th. Piper Sandler raised Pure Storage from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their target price on shares of Pure Storage from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.70.

Insider Buying and Selling

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares of the company's stock, valued at $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the transaction, the chief accounting officer now owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,178 shares of company stock worth $8,871,746. Corporate insiders own 6.00% of the company's stock.

Pure Storage Stock Performance

Shares of NYSE:PSTG traded down $0.97 on Wednesday, reaching $67.94. The company's stock had a trading volume of 1,625,724 shares, compared to its average volume of 2,308,249. The company has a 50-day simple moving average of $65.98 and a 200 day simple moving average of $57.86. Pure Storage, Inc. has a 52-week low of $38.78 and a 52-week high of $73.67. The company has a market cap of $22.17 billion, a P/E ratio of 178.80, a PEG ratio of 5.12 and a beta of 1.09.

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.