Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. decreased its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,921 shares of the technology company's stock after selling 7,791 shares during the quarter. Stanley Laman Group Ltd.'s holdings in Pure Storage were worth $4,295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Sugar Maple Asset Management LLC acquired a new stake in Pure Storage during the 4th quarter worth $29,000. Compass Financial Services Inc acquired a new position in Pure Storage during the fourth quarter worth about $29,000. ORG Wealth Partners LLC purchased a new stake in Pure Storage during the 3rd quarter valued at about $31,000. Larson Financial Group LLC raised its holdings in 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 acquiring an additional 212 shares during the last quarter. Finally, Berbice Capital Management LLC purchased a new position in Pure Storage in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insider Buying and Selling

In other news, CAO Mona Chu sold 8,311 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the transaction, the chief accounting officer now directly owns 67,681 shares of the company's stock, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the sale, the insider now directly owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their position. 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 in the last ninety days. Company insiders own 6.00% of the company's stock.

Pure Storage Stock Performance

Shares of PSTG traded up $0.24 during mid-day trading on Monday, hitting $67.78. 1,475,224 shares of the company's stock were exchanged, compared to its average volume of 2,416,183. The stock's 50-day moving average is $65.73 and its 200-day moving average is $57.68. Pure Storage, Inc. has a fifty-two week low of $38.78 and a fifty-two week high of $73.67. The company has a market cap of $22.11 billion, a price-to-earnings ratio of 178.38, a P/E/G ratio of 5.26 and a beta of 1.09.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PSTG shares. Barclays upped their price target on Pure Storage from $56.00 to $61.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 4th. Piper Sandler raised Pure Storage from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price target on shares of Pure Storage from $60.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Evercore ISI upped their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, Oppenheimer assumed coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They set an "outperform" rating and a $70.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $72.70.

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.