Pure Storage, Inc. (NYSE:PSTG) Position Reduced by Pure Financial Advisors LLC

Pure Financial Advisors LLC lowered its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,478 shares of the technology company’s stock after selling 428 shares during the quarter. Pure Financial Advisors LLC’s holdings in Pure Storage were worth $1,442,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Prairiewood Capital LLC purchased a new stake in Pure Storage in the 4th quarter worth about $313,000. UMB Bank n.a. lifted its position in shares of Pure Storage by 69.2% in the fourth quarter. UMB Bank n.a. now owns 2,513 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,028 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of Pure Storage by 29.7% in the fourth quarter. HB Wealth Management LLC now owns 8,829 shares of the technology company’s stock worth $542,000 after purchasing an additional 2,021 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Pure Storage during the fourth quarter worth approximately $314,000. Finally, Avanza Fonder AB purchased a new position in Pure Storage during the fourth quarter valued at approximately $420,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity

In other Pure Storage news, CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the sale, the chief accounting officer now owns 67,681 shares in the company, valued at approximately $4,207,050.96. This trade represents a 10.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,178 shares of company stock valued at $8,871,746. 6.00% of the stock is owned by company insiders.

Pure Storage Stock Up 5.7 %

PSTG opened at $70.08 on Wednesday. The stock’s 50 day moving average price is $59.91 and its two-hundred day moving average price is $56.74. The firm has a market capitalization of $22.86 billion, a P/E ratio of 184.43, a price-to-earnings-growth ratio of 8.00 and a beta of 1.09. Pure Storage, Inc. has a 12-month low of $38.78 and a 12-month high of $70.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PSTG shares. Citigroup lifted their target price on shares of Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. UBS Group lifted their price objective on Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Morgan Stanley upped their target price on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Needham & Company LLC lifted their price target on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Guggenheim increased their price objective on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. 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. Based on data from MarketBeat, Pure Storage presently has a consensus 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.