Avanza Fonder AB Invests $420,000 in Pure Storage, Inc. (NYSE:PSTG)

Avanza Fonder AB bought a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 6,841 shares of the technology company's stock, valued at approximately $420,000.

Several other hedge funds have also added to or reduced their stakes in PSTG. ORG Wealth Partners LLC bought a new position in shares of Pure Storage in the third quarter worth approximately $31,000. Larson Financial Group LLC grew its holdings in 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 acquiring an additional 212 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock worth $38,000 after acquiring an additional 219 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Pure Storage in the third quarter valued at about $50,000. Finally, Covestor Ltd raised its stake in shares of Pure Storage by 175.3% during the third quarter. Covestor Ltd now owns 991 shares of the technology company's stock valued at $50,000 after acquiring an additional 631 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PSTG shares. Northland Securities reissued a "market perform" rating and issued a $63.00 target price (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Guggenheim boosted their target price on Pure Storage from $72.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Stifel Nicolaus upped their target price on Pure Storage from $60.00 to $65.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. Needham & Company LLC lifted their price target on shares of Pure Storage from $62.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, Citigroup upped their price objective on shares of Pure Storage from $63.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $72.70.

Insider Transactions at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the business's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now owns 262,144 shares of the company's stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the company's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the transaction, the executive now owns 72,927 shares in the company, valued at $4,675,349.97. This represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,178 shares of company stock worth $8,871,746. Corporate insiders own 6.00% of the company's stock.

Pure Storage Price Performance

Pure Storage stock traded up $1.05 during mid-day trading on Monday, reaching $66.47. The stock had a trading volume of 1,871,415 shares, compared to its average volume of 2,272,399. Pure Storage, Inc. has a one year low of $37.26 and a one year high of $70.41. The company has a 50-day moving average price of $59.63 and a two-hundred day moving average price of $56.72. The company has a market capitalization of $21.69 billion, a price-to-earnings ratio of 174.94, a PEG ratio of 7.81 and a beta of 1.09.

Pure Storage Company 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.