Everence Capital Management Inc. Makes New Investment in Pure Storage, Inc. (NYSE:PSTG)

Everence Capital Management Inc. purchased a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,020 shares of the technology company's stock, valued at approximately $554,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in shares of Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company's stock worth $28,000 after buying an additional 306 shares during the period. ORG Wealth Partners LLC acquired a new position in Pure Storage during the third quarter worth $31,000. Venturi Wealth Management LLC lifted its holdings in shares of Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock valued at $38,000 after acquiring an additional 219 shares during the period. Covestor Ltd boosted its stake in shares of Pure Storage by 175.3% in the 3rd quarter. Covestor Ltd now owns 991 shares of the technology company's stock valued at $50,000 after purchasing an additional 631 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Pure Storage in the 3rd quarter worth about $50,000. Institutional investors own 83.42% of the company's stock.

Insiders Place Their Bets

In related news, insider Ajay Singh sold 19,972 shares of the company's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. This represents a 7.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mona Chu sold 20,647 shares of the firm's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $51.50, for a total value of $1,063,320.50. Following the sale, the chief accounting officer now directly owns 75,992 shares in the company, valued at $3,913,588. The trade was a 21.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 257,825 shares of company stock worth $15,667,066. Insiders own 6.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PSTG shares. TD Cowen lifted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Lake Street Capital lifted their target price on shares of Pure Storage from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Citigroup increased their price target on Pure Storage from $63.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Guggenheim lifted their price objective on Pure Storage from $72.00 to $93.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Finally, William Blair restated an "outperform" rating on shares of Pure Storage in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $72.70.

Pure Storage Trading Up 2.8 %

Shares of NYSE:PSTG traded up $1.74 during midday trading on Friday, hitting $64.23. The company had a trading volume of 1,863,870 shares, compared to its average volume of 1,921,685. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 12 month low of $35.35 and a 12 month high of $70.41. The firm has a fifty day simple moving average of $57.27 and a 200 day simple moving average of $56.78. The stock has a market cap of $20.95 billion, a price-to-earnings ratio of 169.03, a PEG ratio of 7.69 and a beta of 1.09.

Pure Storage 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.