Emerald Advisers LLC Has $587,000 Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Emerald Advisers LLC lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 61.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,558 shares of the technology company’s stock after purchasing an additional 3,623 shares during the period. Emerald Advisers LLC’s holdings in Pure Storage were worth $587,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PSTG. Citigroup Inc. raised its position in Pure Storage by 11.3% during the third quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after acquiring an additional 14,659 shares in the last quarter. TT International Asset Management LTD raised its holdings in shares of Pure Storage by 1,160.1% in the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock valued at $3,671,000 after purchasing an additional 67,285 shares during the period. FMR LLC lifted its stake in Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares during the last quarter. Sycomore Asset Management grew its holdings in Pure Storage by 57.8% during the fourth quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock worth $11,541,000 after purchasing an additional 68,840 shares during the period. Finally, Asio Capital LLC acquired a new position in Pure Storage during the fourth quarter worth approximately $264,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PSTG shares. Evercore ISI raised their price objective on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and raised their price target for the company from $56.00 to $76.00 in a report 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 report on Wednesday, December 4th. Barclays raised their target price on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price target on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Stock Up 0.6 %

PSTG opened at $51.11 on Monday. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 134.51, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The company has a 50-day simple moving average of $61.53 and a 200 day simple moving average of $57.38.

Insider Activity

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the transaction, the executive now owns 72,927 shares in the company, valued at $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

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.