285,000 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by UNICOM Systems Inc.

UNICOM Systems Inc. acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 285,000 shares of the technology company's stock, valued at approximately $17,508,000. Pure Storage makes up about 4.3% of UNICOM Systems Inc.'s portfolio, making the stock its 7th largest position. UNICOM Systems Inc. owned approximately 0.09% of Pure Storage as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSTG. POM Investment Strategies LLC purchased a new stake in Pure Storage during the fourth quarter valued at $147,000. Equitable Trust Co. bought a new stake in shares of Pure Storage in the 4th quarter worth about $1,023,000. Sycomore Asset Management raised its position in shares of Pure Storage by 57.8% during the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company's stock valued at $11,541,000 after buying an additional 68,840 shares in the last quarter. Savant Capital LLC lifted its holdings in shares of Pure Storage by 2.0% in the 4th quarter. Savant Capital LLC now owns 18,359 shares of the technology company's stock valued at $1,128,000 after acquiring an additional 358 shares during the last quarter. Finally, Compass Financial Services Inc purchased a new position in Pure Storage in the fourth quarter worth about $29,000. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Down 0.1 %

Shares of NYSE PSTG traded down $0.08 during midday trading on Friday, reaching $67.46. 811,443 shares of the company's stock traded hands, compared to its average volume of 2,331,591. The company has a market cap of $22.01 billion, a price-to-earnings ratio of 177.69, a P/E/G ratio of 5.26 and a beta of 1.09. The stock's 50 day simple moving average is $65.67 and its 200-day simple moving average is $57.63. Pure Storage, Inc. has a one year low of $38.78 and a one year high of $73.67.

Analysts Set New Price Targets

PSTG has been the topic of a number of recent research reports. Oppenheimer began coverage on Pure Storage in a research report on Wednesday, November 13th. They set an "outperform" rating and a $70.00 price objective on the stock. Morgan Stanley increased their price target on Pure Storage from $62.00 to $72.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. Northland Securities restated a "market perform" rating and issued a $63.00 price target (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. William Blair reiterated an "outperform" rating on shares of Pure Storage in a research report on Thursday, November 14th. Finally, Needham & Company LLC raised their target price 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Pure Storage has an average rating of "Moderate Buy" and a consensus price target of $72.70.

Insiders Place Their Bets

In other news, insider Ajay Singh sold 19,972 shares of the firm's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the sale, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction that occurred 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 owns 7,316,722 shares of the company's stock, 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 sold a total of 137,178 shares of company stock worth $8,871,746 over the last 90 days. Company insiders own 6.00% of the company's stock.

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.