Captrust Financial Advisors Buys 8,594 Shares of Pure Storage, Inc. (NYSE:PSTG)

Captrust Financial Advisors boosted its stake in Pure Storage, Inc. (NYSE:PSTG) by 14.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,706 shares of the technology company’s stock after purchasing an additional 8,594 shares during the quarter. Captrust Financial Advisors’ holdings in Pure Storage were worth $4,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PSTG. Sugar Maple Asset Management LLC purchased a new position in Pure Storage during the fourth quarter worth about $29,000. Compass Financial Services Inc purchased a new position in shares of Pure Storage during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. bought a new position in shares of Pure Storage in the fourth quarter worth approximately $31,000. Berbice Capital Management LLC purchased a new stake in Pure Storage in the fourth quarter valued at approximately $37,000. Finally, Financial Life Planners bought a new stake in Pure Storage during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Activity

In related news, CRO Dan Fitzsimons sold 6,977 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the completion of the transaction, the executive now directly owns 90,223 shares of the company’s stock, valued at $3,691,022.93. This represents a 7.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $75.00 price objective on shares of Pure Storage in a research report on Thursday, February 27th. Citigroup lowered their price target on Pure Storage from $77.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Evercore ISI decreased their price objective on Pure Storage from $75.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Finally, Piper Sandler cut their target price on Pure Storage from $76.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Pure Storage Price Performance

PSTG opened at $48.72 on Friday. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The business has a 50 day simple moving average of $45.89 and a two-hundred day simple moving average of $55.63. The firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of 128.21, a PEG ratio of 5.12 and a beta of 1.05.

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.