Hennion & Walsh Asset Management Inc. Increases Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Hennion & Walsh Asset Management Inc. raised its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,103 shares of the technology company's stock after buying an additional 3,934 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Pure Storage were worth $1,481,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC bought a new position in shares of Pure Storage during the third quarter worth $31,000. Larson Financial Group LLC grew its position in shares of Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock valued at $32,000 after purchasing an additional 212 shares during the period. Venturi Wealth Management LLC increased its stake in Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock worth $38,000 after purchasing an additional 219 shares in the last quarter. Covestor Ltd lifted its stake in Pure Storage by 175.3% in the third quarter. Covestor Ltd now owns 991 shares of the technology company's stock valued at $50,000 after buying an additional 631 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Pure Storage in the third quarter valued at approximately $50,000. 83.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on PSTG. Evercore ISI boosted their price target on Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Piper Sandler raised shares of Pure Storage from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. Stifel Nicolaus lifted their price target on shares of Pure Storage from $60.00 to $65.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on Pure Storage from $60.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, UBS Group upped their target price on Pure Storage from $45.00 to $47.00 and gave the stock a "sell" rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Pure Storage currently has an average rating of "Moderate Buy" and a consensus target price of $72.70.

Insider Transactions at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the sale, the insider now directly owns 7,316,722 shares of the company's stock, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the firm'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 sale, the chief accounting officer now directly owns 67,681 shares of the company's stock, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 237,178 shares of company stock valued at $14,603,746 in the last 90 days. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Trading Up 1.6 %

NYSE PSTG traded up $1.05 during trading hours on Friday, hitting $66.47. 1,871,415 shares of the company's stock were exchanged, compared to its average volume of 2,272,399. The firm has a market cap of $21.69 billion, a price-to-earnings ratio of 174.94, a PEG ratio of 7.81 and a beta of 1.09. Pure Storage, Inc. has a 1-year low of $37.26 and a 1-year high of $70.41. The stock has a 50-day simple moving average of $59.63 and a 200 day simple moving average of $56.72.

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.