Green Alpha Advisors LLC Lowers Stake in Pure Storage, Inc. (NYSE:PSTG)

Green Alpha Advisors LLC lessened its holdings in Pure Storage, Inc. (NYSE:PSTG) by 10.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,548 shares of the technology company’s stock after selling 1,406 shares during the quarter. Green Alpha Advisors LLC’s holdings in Pure Storage were worth $771,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage in the third quarter valued at approximately $31,000. Larson Financial Group LLC increased its holdings in Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after acquiring an additional 212 shares in the last quarter. Venturi Wealth Management LLC raised its position in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after acquiring an additional 219 shares during the period. Covestor Ltd raised its position in Pure Storage by 175.3% during the third quarter. Covestor Ltd now owns 991 shares of the technology company’s stock worth $50,000 after acquiring an additional 631 shares during the period. Finally, nVerses Capital LLC purchased a new position in Pure Storage during the third quarter valued at $50,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of PSTG opened at $64.88 on Monday. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a fifty-two week low of $35.35 and a fifty-two week high of $70.41. The company has a market cap of $21.17 billion, a P/E ratio of 170.74, a PEG ratio of 7.69 and a beta of 1.09. The firm’s 50 day moving average price is $58.41 and its 200 day moving average price is $56.71.

Insider Activity at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the 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 transaction, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction 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 completion of 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 237,178 shares of company stock worth $14,603,746. Company insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the subject of several research analyst reports. TD Cowen upped their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer started coverage on Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective for the company. Citigroup raised their price objective on Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Lake Street Capital upped their target price on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.