Equitable Trust Co. Invests $1.02 Million in Pure Storage, Inc. (NYSE:PSTG)

Equitable Trust Co. purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,646 shares of the technology company's stock, valued at approximately $1,023,000.

Other institutional investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Pure Storage during the fourth quarter worth about $29,000. Compass Financial Services Inc purchased a new stake in shares of Pure Storage during the fourth quarter worth about $29,000. Berbice Capital Management LLC purchased a new stake in shares of Pure Storage during the fourth quarter worth about $37,000. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage during the third quarter worth about $31,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Pure Storage by 49.1% during the third 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. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Trading Up 0.4 %

PSTG stock traded up $0.24 on Friday, hitting $67.78. The company had a trading volume of 1,475,224 shares, compared to its average volume of 2,355,620. Pure Storage, Inc. has a 12-month low of $38.78 and a 12-month high of $73.67. The stock's 50-day simple moving average is $65.67 and its 200 day simple moving average is $57.63. The stock has a market cap of $22.11 billion, a price-to-earnings ratio of 178.38, a P/E/G ratio of 5.26 and a beta of 1.09.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on 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 owns 7,316,722 shares in the company, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction on Thursday, December 12th. The stock was 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 represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock worth $8,871,746 in the last 90 days. 6.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays increased their target price on shares of Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 4th. Citigroup increased their price target 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. Stifel Nicolaus increased their price target on shares of Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. Evercore ISI increased their price target on shares of Pure Storage from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Finally, UBS Group increased their price target on shares of Pure Storage from $45.00 to $47.00 and gave the stock a "sell" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.70.

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.