Proficio Capital Partners LLC Acquires Shares of 83,115 Pure Storage, Inc. (NYSE:PSTG)

Proficio Capital Partners LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 83,115 shares of the technology company's stock, valued at approximately $5,106,000.

Other large investors also recently made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Pure Storage during the fourth quarter worth $29,000. Compass Financial Services Inc acquired a new stake in shares of Pure Storage during the fourth quarter valued at approximately $29,000. Berbice Capital Management LLC purchased a new stake in shares of Pure Storage in the 4th quarter valued at approximately $37,000. Larson Financial Group LLC boosted its stake in Pure Storage by 49.1% in the 3rd 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 period. Finally, Financial Life Planners purchased a new stake in shares of Pure Storage in the fourth quarter valued at $44,000. Institutional investors own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Piper Sandler raised Pure Storage from a "neutral" rating to an "overweight" rating and upped their price target for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. Lake Street Capital upped their target price on Pure Storage from $68.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. William Blair restated an "outperform" rating on shares of Pure Storage in a report on Thursday, November 14th. Northland Securities reiterated a "market perform" rating and issued a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $73.20.

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Pure Storage Trading Up 0.8 %

PSTG stock traded up $0.42 during trading on Friday, reaching $49.34. 3,679,678 shares of the stock were exchanged, compared to its average volume of 2,774,345. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The company has a market capitalization of $16.09 billion, a P/E ratio of 129.83, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The stock has a 50 day simple moving average of $64.50 and a 200-day simple moving average of $57.90.

Insider Buying and Selling

In other news, insider Ajay Singh sold 19,972 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares of the company's stock, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,178 shares of company stock valued at $2,316,746 over the last ninety days. 6.00% of the stock is owned by company insiders.

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.