Avior Wealth Management LLC grew its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 6,436.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,229 shares of the technology company's stock after acquiring an additional 5,149 shares during the quarter. Avior Wealth Management LLC's holdings in Pure Storage were worth $321,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new position in Pure Storage in the fourth quarter valued at $29,000. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage during the 3rd quarter worth about $31,000. Larson Financial Group LLC raised its stake 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 valued at $32,000 after acquiring an additional 212 shares during the period. Venturi Wealth Management LLC boosted its position in Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock worth $38,000 after purchasing an additional 219 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Pure Storage in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 83.42% of the company's stock.
Insiders Place Their Bets
In related news, insider Ajay Singh sold 19,972 shares of the business's stock in a transaction on 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 sale, the insider now owns 262,144 shares of the company's stock, valued at $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 is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the transaction, the insider now directly owns 7,316,722 shares of the company's stock, valued at $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock valued at $8,871,746 over the last three months. 6.00% of the stock is currently owned by insiders.
Pure Storage Price Performance
PSTG traded down $6.88 during trading on Monday, reaching $65.27. 6,289,573 shares of the stock traded hands, compared to its average volume of 2,693,598. The stock's 50-day simple moving average is $61.69 and its two-hundred day simple moving average is $56.91. Pure Storage, Inc. has a fifty-two week low of $38.78 and a fifty-two week high of $73.67. The stock has a market cap of $21.29 billion, a price-to-earnings ratio of 171.76, a price-to-earnings-growth ratio of 8.72 and a beta of 1.09.
Analyst Ratings Changes
Several equities analysts recently commented on PSTG shares. Barclays boosted their price target on Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Evercore ISI boosted their target price on shares of Pure Storage from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their target price on Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Finally, Lake Street Capital increased their target price on shares of Pure Storage from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, Pure Storage presently has an average rating of "Moderate Buy" and an average target price of $72.70.
Read Our Latest Stock Report on Pure Storage
Pure Storage Profile
(
Free Report)
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.
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