MBM Wealth Consultants LLC Purchases 425 Shares of Pure Storage, Inc. (NYSE:PSTG)

MBM Wealth Consultants LLC raised its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 4.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,120 shares of the technology company’s stock after acquiring an additional 425 shares during the period. MBM Wealth Consultants LLC’s holdings in Pure Storage were worth $695,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new position in shares of Pure Storage during the 4th quarter valued at about $29,000. ORG Wealth Partners LLC bought a new position in Pure Storage in the 3rd quarter worth approximately $31,000. Larson Financial Group LLC grew its holdings in Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after buying an additional 212 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after acquiring an additional 219 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Pure Storage during the third quarter valued at approximately $50,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Pure Storage

In other news, CAO Mona Chu sold 8,311 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of the 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 transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Trading Up 5.7 %

NYSE PSTG opened at $70.08 on Wednesday. Pure Storage, Inc. has a twelve month low of $38.78 and a twelve month high of $70.41. The business’s 50-day moving average price is $59.91 and its 200 day moving average price is $56.74. The company has a market capitalization of $22.86 billion, a PE ratio of 184.43, a price-to-earnings-growth ratio of 8.00 and a beta of 1.09.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PSTG shares. Needham & Company LLC lifted their price target on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer started coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price target on the stock. William Blair reissued an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Citigroup upped their target price on Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, UBS Group boosted their price objective on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.70.

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.