World Investment Advisors LLC Takes $477,000 Position in Pure Storage, Inc. (NYSE:PSTG)

World Investment Advisors LLC acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,485 shares of the technology company's stock, valued at approximately $477,000.

A number of other hedge funds also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in Pure Storage by 97.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,974 shares of the technology company's stock worth $769,000 after purchasing an additional 5,918 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of Pure Storage during the second quarter worth about $748,000. Blue Trust Inc. raised its position in Pure Storage by 174.4% in the 2nd quarter. Blue Trust Inc. now owns 741 shares of the technology company's stock valued at $48,000 after buying an additional 471 shares during the last quarter. Brookstone Capital Management lifted its stake in Pure Storage by 5.0% in the 2nd quarter. Brookstone Capital Management now owns 9,058 shares of the technology company's stock valued at $549,000 after acquiring an additional 431 shares in the last quarter. Finally, Raymond James & Associates boosted its position in Pure Storage by 5.4% during the 2nd quarter. Raymond James & Associates now owns 330,271 shares of the technology company's stock worth $21,207,000 after acquiring an additional 16,864 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Pure Storage Price Performance

Shares of PSTG traded down $3.17 during mid-day trading on Wednesday, reaching $62.59. The company had a trading volume of 3,746,509 shares, compared to its average volume of 3,667,183. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of 164.71, a P/E/G ratio of 7.69 and a beta of 1.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77. The company's 50 day simple moving average is $55.05 and its 200 day simple moving average is $56.95. Pure Storage, Inc. has a 1-year low of $34.32 and a 1-year high of $70.41.

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the transaction, the insider now directly owns 500,000 shares of the company's stock, valued at $24,970,000. The trade was a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares of the company's stock, valued at $4,207,050.96. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 462,853 shares of company stock valued at $25,670,642. 6.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PSTG has been the topic of a number of research reports. Evercore ISI boosted their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Barclays increased their price objective on shares of Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 4th. Lake Street Capital raised their price objective on Pure Storage from $68.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Finally, Citigroup increased their price target on Pure Storage from $63.00 to $75.00 and gave the company a "buy" rating in a research 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.