Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 99.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 134,500 shares of the technology company’s stock after acquiring an additional 67,000 shares during the period. Forsta AP Fonden’s holdings in Pure Storage were worth $8,262,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Pure Storage in the fourth quarter valued at approximately $29,000. Berbice Capital Management LLC acquired a new stake in Pure Storage during the 4th quarter valued at $37,000. ORG Wealth Partners LLC purchased a new position in Pure Storage during the third quarter worth $31,000. Larson Financial Group LLC raised its holdings in shares of Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after acquiring an additional 212 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after acquiring an additional 219 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the transaction, the insider now owns 7,316,722 shares in the company, valued at $479,611,127.10. The trade was a 1.35 % decrease in their position. The sale was disclosed in a filing 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 dated Thursday, December 12th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is currently owned by company insiders.

Pure Storage Price Performance

NYSE:PSTG opened at $68.37 on Friday. The business’s 50-day moving average is $62.70 and its two-hundred day moving average is $57.00. The firm has a market capitalization of $22.31 billion, a PE ratio of 179.93, a price-to-earnings-growth ratio of 8.72 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $38.78 and a 12 month high of $73.67.

Analysts Set New Price Targets

Several brokerages recently weighed in on PSTG. Northland Securities reissued a “market perform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. TD Cowen upped their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Guggenheim lifted their target price on shares of Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. UBS Group increased their price target on Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Finally, Barclays lifted their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

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.