Pure Storage, Inc. (NYSE:PSTG) Stock Holdings Increased by Amalgamated Bank

Amalgamated Bank increased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 151,534 shares of the technology company’s stock after purchasing an additional 1,065 shares during the quarter. Amalgamated Bank’s holdings in Pure Storage were worth $9,309,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSTG. Sugar Maple Asset Management LLC acquired a new position in Pure Storage in the 4th quarter worth about $29,000. Compass Financial Services Inc bought a new stake in shares of Pure Storage in the 4th quarter valued at approximately $29,000. Larson Financial Group LLC increased its holdings in 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 buying an additional 212 shares during the last quarter. Berbice Capital Management LLC bought a new position in Pure Storage during the fourth quarter valued at approximately $37,000. Finally, Venturi Wealth Management LLC lifted its stake in 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 during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PSTG shares. Citigroup increased their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Evercore ISI upped their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their target price on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer assumed coverage on Pure Storage in a report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.95.

Pure Storage Price Performance

NYSE PSTG opened at $61.35 on Wednesday. The company’s fifty day moving average is $66.09 and its two-hundred day moving average is $58.25. Pure Storage, Inc. has a 52-week low of $40.79 and a 52-week high of $73.67. The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of 161.46, a P/E/G ratio of 5.12 and a beta of 1.09.

Insider Activity at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the sale, the chief accounting officer now owns 67,681 shares in the company, 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 90 days, insiders sold 137,178 shares of company stock worth $8,871,746. 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.