Procyon Advisors LLC Purchases Shares of 4,087 Pure Storage, Inc. (NYSE:PSTG)

Procyon Advisors LLC bought a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,087 shares of the technology company's stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sycomore Asset Management acquired a new stake in Pure Storage during the second quarter worth about $2,259,000. Citigroup Inc. grew its holdings in shares of Pure Storage by 11.3% during the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company's stock worth $7,235,000 after purchasing an additional 14,659 shares in the last quarter. TT International Asset Management LTD increased its holdings in Pure Storage by 1,160.1% in the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company's stock valued at $3,671,000 after buying an additional 67,285 shares during the period. FMR LLC lifted its holdings in shares of Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock worth $2,469,487,000 after acquiring an additional 368,643 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Pure Storage by 92.0% during the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company's stock worth $9,570,000 after acquiring an additional 92,762 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Insiders Place Their Bets

In related news, insider Ajay Singh sold 19,972 shares of the business's stock in a transaction 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 sale, the insider now directly owns 262,144 shares of the company's stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the transaction, the executive now owns 72,927 shares of the company's stock, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock worth $8,871,746 over the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Trading Up 1.6 %

Shares of PSTG stock traded up $1.05 on Monday, hitting $66.47. The stock had a trading volume of 1,871,415 shares, compared to its average volume of 2,272,399. Pure Storage, Inc. has a twelve month low of $37.26 and a twelve month high of $70.41. The company has a fifty day moving average price of $59.63 and a two-hundred day moving average price of $56.72. The firm has a market cap of $21.69 billion, a P/E ratio of 174.94, a PEG ratio of 7.81 and a beta of 1.09.

Analyst Ratings Changes

PSTG has been the topic of a number of recent research reports. Oppenheimer initiated coverage on Pure Storage in a report on Wednesday, November 13th. They set an "outperform" rating and a $70.00 price objective on the stock. Lake Street Capital upped their price target on Pure Storage from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Needham & Company LLC lifted their price objective on Pure Storage from $62.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on Pure Storage from $60.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, Guggenheim raised their price target on shares of Pure Storage from $72.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Pure Storage has an average rating of "Moderate Buy" and an average target price 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.