Main Management ETF Advisors LLC Makes New $741,000 Investment in Pure Storage, Inc. (NYSE:PSTG)

Main Management ETF Advisors LLC acquired a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,744 shares of the technology company's stock, valued at approximately $741,000.

Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC raised its stake in 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 acquiring an additional 306 shares during the period. ORG Wealth Partners LLC purchased a new stake in Pure Storage during the 3rd quarter valued at approximately $31,000. FSC Wealth Advisors LLC purchased a new position in shares of Pure Storage in the second quarter valued at $33,000. ORG Partners LLC purchased a new position in shares of Pure Storage in the second quarter valued at $35,000. Finally, Venturi Wealth Management LLC lifted its position in Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock worth $38,000 after buying an additional 219 shares during the last quarter. Institutional investors own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSTG. Stifel Nicolaus lifted their target price on Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating in a research report on Wednesday. Susquehanna reiterated a "positive" rating and issued a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Raymond James dropped their price target on Pure Storage from $73.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, August 29th. Oppenheimer started coverage on Pure Storage in a research report on Wednesday, November 13th. They issued an "outperform" rating and a $70.00 target price on the stock. Finally, Evercore ISI upped their target price on Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $72.10.

Insiders Place Their Bets

In related news, CAO Mona Chu sold 25,000 shares of the firm's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,639 shares in the company, valued at $4,862,874.48. This trade represents a 20.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Colgrove sold 100,000 shares of the firm's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares of the company's stock, valued at $24,970,000. This trade represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 454,542 shares of company stock valued at $25,154,030 in the last three months. 6.00% of the stock is currently owned by insiders.

Pure Storage Price Performance

PSTG stock traded up $2.36 during midday trading on Friday, reaching $64.92. The stock had a trading volume of 4,825,818 shares, compared to its average volume of 3,396,470. The company's fifty day simple moving average is $53.04 and its 200 day simple moving average is $56.81. The company has a current ratio of 1.77, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The company has a market cap of $21.27 billion, a price-to-earnings ratio of 170.84, a price-to-earnings-growth ratio of 8.87 and a beta of 1.13. Pure Storage, Inc. has a 52-week low of $31.90 and a 52-week high of $70.41.

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.