Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Pure Storage, Inc. (NYSE:PSTG) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,753 shares of the technology company’s stock after buying an additional 645 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Pure Storage were worth $4,223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal London Asset Management Ltd. grew its position in Pure Storage by 103.7% in the 4th quarter. Royal London Asset Management Ltd. now owns 142,560 shares of the technology company’s stock valued at $8,757,000 after acquiring an additional 72,568 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in Pure Storage by 811.3% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 27,037 shares of the technology company’s stock valued at $1,661,000 after acquiring an additional 24,070 shares in the last quarter. Xponance Inc. grew its position in Pure Storage by 8.0% in the 4th quarter. Xponance Inc. now owns 79,766 shares of the technology company’s stock valued at $4,900,000 after acquiring an additional 5,909 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Pure Storage by 0.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 73,249 shares of the technology company’s stock valued at $4,500,000 after acquiring an additional 661 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in Pure Storage by 1,725.3% in the 4th quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company’s stock valued at $155,124,000 after acquiring an additional 2,386,864 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the sale, the executive now owns 72,927 shares of the company’s stock, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.

Pure Storage Trading Up 0.6 %

Shares of NYSE PSTG opened at $51.11 on Monday. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The stock has a 50 day moving average of $61.53 and a two-hundred day moving average of $57.38. The stock has a market cap of $16.67 billion, a P/E ratio of 134.51, a P/E/G ratio of 5.12 and a beta of 1.09.

Wall Street Analyst Weigh In

PSTG has been the subject of several research reports. Evercore ISI lifted their target price on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Northland Securities reissued a “market perform” rating and set a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Lake Street Capital boosted their price objective on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

About Pure Storage

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.