New Age Alpha Advisors LLC Takes Position in Pure Storage, Inc. (NYSE:PSTG)

New Age Alpha Advisors LLC purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 67,468 shares of the technology company's stock, valued at approximately $4,145,000.

Several other institutional investors also recently bought and sold shares of the stock. Sugar Maple Asset Management LLC acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $29,000. Compass Financial Services Inc purchased a new stake in Pure Storage during the fourth quarter worth $29,000. Crowley Wealth Management Inc. acquired a new stake in Pure Storage during the fourth quarter valued at $31,000. Larson Financial Group LLC increased its holdings in Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock valued at $32,000 after buying an additional 212 shares in the last quarter. Finally, Berbice Capital Management LLC acquired a new position in shares of Pure Storage in the fourth quarter worth about $37,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Price Performance

Shares of NYSE:PSTG traded down $1.78 during midday trading on Monday, hitting $44.22. The company had a trading volume of 4,276,208 shares, compared to its average volume of 3,092,780. Pure Storage, Inc. has a twelve month low of $43.73 and a twelve month high of $73.67. The stock has a market cap of $14.43 billion, a price-to-earnings ratio of 116.38, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The business's 50-day simple moving average is $60.09 and its 200-day simple moving average is $57.50.

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Insiders Place Their Bets

In other news, insider Ajay Singh sold 19,972 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value 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 represents a 7.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PSTG shares. Piper Sandler upgraded Pure Storage from a "neutral" rating to an "overweight" rating and raised their target price for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. Needham & Company LLC restated a "buy" rating and issued a $75.00 price objective on shares of Pure Storage in a research report on Thursday, February 27th. Morgan Stanley increased their target price on Pure Storage from $62.00 to $72.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. boosted their price target on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Finally, TD Cowen increased their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $73.20.

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.