Gries Financial LLC Makes New Investment in Pure Storage, Inc. (NYSE:PSTG)

Gries Financial LLC bought a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,829 shares of the technology company's stock, valued at approximately $235,000.

Other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock valued at $137,628,000 after acquiring an additional 1,730,123 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company's stock valued at $204,163,000 after buying an additional 747,034 shares during the last quarter. State Street Corp raised its position in shares of Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company's stock valued at $515,596,000 after acquiring an additional 626,427 shares in the last quarter. World Investment Advisors LLC bought a new position in Pure Storage during the third quarter worth $20,470,000. Finally, FMR LLC boosted its holdings in shares of Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock valued at $2,469,487,000 after buying an additional 368,643 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Stock Down 1.5 %

Pure Storage stock traded down $0.99 during trading hours on Monday, hitting $66.80. The stock had a trading volume of 1,941,354 shares, compared to its average volume of 2,498,822. The stock has a market cap of $21.79 billion, a price-to-earnings ratio of 175.79, a P/E/G ratio of 8.18 and a beta of 1.09. The business's 50 day simple moving average is $63.36 and its 200-day simple moving average is $57.02. Pure Storage, Inc. has a one year low of $38.78 and a one year high of $73.67.

Insider Activity

In other 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mona Chu sold 8,311 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares of the company's stock, valued at $4,207,050.96. This 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 valued at $8,871,746. Company insiders own 6.00% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on PSTG. TD Cowen upped their price target on Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Guggenheim increased their price target on shares of Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Wells Fargo & Company boosted their price target on 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 upped their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Finally, Oppenheimer began coverage on Pure Storage in a report on Wednesday, November 13th. They set an "outperform" rating and a $70.00 price target for the company. 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, Pure Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.70.

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.