Legacy Wealth Asset Management LLC Decreases Stake in Pure Storage, Inc. (NYSE:PSTG)

Legacy Wealth Asset Management LLC reduced its stake in Pure Storage, Inc. (NYSE:PSTG) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,791 shares of the technology company’s stock after selling 635 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Pure Storage were worth $356,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. ORG Wealth Partners LLC purchased a new position in Pure Storage in the 3rd quarter worth approximately $31,000. Larson Financial Group LLC increased its stake 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 valued at $32,000 after buying an additional 212 shares during the period. Venturi Wealth Management LLC increased its stake 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 valued at $38,000 after buying an additional 219 shares during the period. nVerses Capital LLC purchased a new position in shares of Pure Storage during the third quarter valued at approximately $50,000. Finally, Covestor Ltd increased its stake in shares of Pure Storage by 175.3% during 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 during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several research analyst reports. William Blair reissued an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Lake Street Capital boosted their target price on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus lifted their price target on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $66.47 on Friday. The company has a market cap of $21.69 billion, a P/E 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’s fifty day moving average price is $59.63 and its 200-day moving average price is $56.81.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the transaction, the insider now directly owns 300,000 shares of the company’s stock, valued at $17,196,000. This represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the company’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 transaction, the chief accounting officer now directly owns 67,681 shares in the company, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 237,178 shares of company stock valued at $14,603,746 over the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

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.