Mutual Advisors LLC Makes New $322,000 Investment in Pure Storage, Inc. (NYSE:PSTG)

Mutual Advisors LLC purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,921 shares of the technology company's stock, valued at approximately $322,000.

Other large investors also recently modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new position in Pure Storage during the fourth quarter worth about $29,000. ORG Wealth Partners LLC purchased a new position in shares of Pure Storage during the third quarter worth about $31,000. Larson Financial Group LLC increased its position in shares of Pure Storage by 49.1% in 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 last quarter. Venturi Wealth Management LLC raised its stake in Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock valued at $38,000 after purchasing an additional 219 shares in the last quarter. Finally, Covestor Ltd lifted its position in 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 purchasing an additional 631 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PSTG shares. TD Cowen raised their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Oppenheimer assumed coverage on Pure Storage in a research report on Wednesday, November 13th. They set an "outperform" rating and a $70.00 price target on the stock. Wells Fargo & Company lifted their price target on Pure Storage from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. William Blair reiterated an "outperform" rating on shares of Pure Storage in a research report on Thursday, November 14th. Finally, Piper Sandler upgraded Pure Storage from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. One equities research 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $72.70.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the business's 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 owns 7,316,722 shares in the company, valued at $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares of the company's stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,178 shares of company stock valued at $8,871,746. Company insiders own 6.00% of the company's stock.

Pure Storage Price Performance

NYSE:PSTG traded down $0.49 during mid-day trading on Friday, reaching $67.89. 1,929,862 shares of the company's stock traded hands, compared to its average volume of 2,368,991. Pure Storage, Inc. has a 12-month low of $38.78 and a 12-month high of $73.67. The company has a 50 day moving average price of $63.36 and a 200-day moving average price of $57.09. The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of 178.66, a PEG ratio of 8.16 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.