Pembroke Management LTD Has $29.73 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

Pembroke Management LTD raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 15.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 483,933 shares of the technology company's stock after acquiring an additional 65,422 shares during the quarter. Pure Storage makes up 3.8% of Pembroke Management LTD's investment portfolio, making the stock its 5th largest position. Pembroke Management LTD owned approximately 0.15% of Pure Storage worth $29,728,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cherry Creek Investment Advisors Inc. increased its holdings in Pure Storage by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company's stock valued at $4,130,000 after acquiring an additional 189 shares in the last quarter. Nvwm LLC grew its holdings in shares of Pure Storage by 23.3% during the third quarter. Nvwm LLC now owns 1,027 shares of the technology company's stock worth $52,000 after buying an additional 194 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock worth $32,000 after buying an additional 212 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock worth $38,000 after buying an additional 219 shares in the last quarter. Finally, Brookstone Capital Management grew its holdings in shares of Pure Storage by 3.1% during the fourth quarter. Brookstone Capital Management now owns 7,917 shares of the technology company's stock worth $486,000 after buying an additional 240 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pure Storage

In other 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 transaction of $1,229,875.76. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the transaction, the insider now directly owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,178 shares of company stock valued at $8,871,746 over the last ninety days. Corporate insiders own 6.00% of the company's stock.

Pure Storage Price Performance

PSTG stock traded down $2.66 during midday trading on Friday, reaching $65.14. 2,739,194 shares of the company's stock traded hands, compared to its average volume of 2,302,057. The company has a market capitalization of $21.25 billion, a P/E ratio of 171.43, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a fifty-two week low of $40.32 and a fifty-two week high of $73.67. The business has a 50-day moving average price of $66.20 and a two-hundred day moving average price of $58.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Evercore ISI lifted their price target on shares of Pure Storage from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Barclays lifted their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 4th. Needham & Company LLC lifted their price target on shares of Pure Storage from $62.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Finally, Oppenheimer assumed coverage on shares of Pure Storage in a report on Wednesday, November 13th. They set an "outperform" rating and a $70.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $72.95.

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.