Pure Storage, Inc. (NYSE:PSTG) Shares Bought by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. raised its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 119.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,676 shares of the technology company's stock after purchasing an additional 37,946 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Pure Storage were worth $4,280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new stake in Pure Storage in the 4th quarter valued at $29,000. Compass Financial Services Inc purchased a new stake in shares of Pure Storage in the fourth quarter worth about $29,000. Berbice Capital Management LLC acquired a new stake in shares of Pure Storage in the fourth quarter valued at about $37,000. Larson Financial Group LLC raised its holdings in shares of Pure Storage by 49.1% during the 3rd 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 during the period. Finally, Financial Life Planners acquired a new position in Pure Storage during the 4th quarter worth approximately $44,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PSTG shares. UBS Group increased their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a research report on Thursday, February 27th. Wells Fargo & Company lifted their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Bank of America decreased their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Lake Street Capital lifted their target price on Pure Storage from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, TD Cowen increased their price target on Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of "Moderate Buy" and an average target price of $73.20.

Remove Ads

Pure Storage Stock Up 0.2 %

PSTG stock traded up $0.08 during midday trading on Tuesday, reaching $52.96. The company had a trading volume of 1,768,388 shares, compared to its average volume of 3,014,205. The firm has a market capitalization of $17.28 billion, a PE ratio of 139.37, a P/E/G ratio of 5.12 and a beta of 1.09. The stock has a 50 day moving average price of $61.12 and a 200 day moving average price of $57.47. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67.

Insiders Place Their Bets

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the business's stock in a transaction dated 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 directly owns 262,144 shares of the company's stock, valued at $16,142,827.52. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.00% of the stock is owned by corporate insiders.

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.