Polen Capital Management LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,643 shares of the technology company's stock, valued at approximately $654,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new stake in Pure Storage in the 4th quarter valued at $29,000. Compass Financial Services Inc bought a new stake in shares of Pure Storage in the fourth quarter valued at about $29,000. Berbice Capital Management LLC acquired a new stake in Pure Storage during the fourth quarter worth about $37,000. Larson Financial Group LLC increased its stake in Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock valued at $32,000 after acquiring an additional 212 shares during the period. Finally, Financial Life Planners acquired a new position in Pure Storage in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 83.42% of the company's stock.
Pure Storage Stock Up 0.6 %
NYSE:PSTG traded up $0.32 during trading hours on Friday, hitting $51.11. 4,095,647 shares of the stock were exchanged, compared to its average volume of 2,819,136. The company's 50 day moving average is $61.80 and its two-hundred day moving average is $57.25. The company has a market capitalization of $16.67 billion, a P/E ratio of 134.51, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67.
Insider Buying and Selling
In other news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares in the company, valued at $4,675,349.97. The trade was a 10.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $1,229,875.76. Following the completion of the transaction, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on PSTG shares. Morgan Stanley boosted their price objective 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. 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 research note on Wednesday, December 4th. Wells Fargo & Company upped their target price on shares of Pure Storage from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Finally, Northland Securities reiterated a "market perform" rating and issued a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.20.
Get Our Latest Analysis on Pure Storage
About Pure Storage
(
Free Report)
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.
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