Asio Capital LLC Acquires New Holdings in Pure Storage, Inc. (NYSE:PSTG)

Asio Capital LLC bought a new position in Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 4,300 shares of the technology company’s stock, valued at approximately $264,000.

A number of other large investors have also recently added to or reduced their stakes in PSTG. Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage in the fourth quarter worth about $29,000. ORG Wealth Partners LLC acquired a new stake in Pure Storage in the 3rd quarter valued at approximately $31,000. Larson Financial Group LLC increased its position 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 buying an additional 212 shares during the period. Berbice Capital Management LLC bought a new stake in shares of Pure Storage in the fourth quarter valued at approximately $37,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Pure Storage by 40.9% in 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 last quarter. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

PSTG has been the subject of several research analyst reports. Guggenheim upped their target price on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Oppenheimer started coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price objective for the company. Citigroup lifted their target price on Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley upped their price target on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Finally, TD Cowen raised their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 7,316,722 shares in the company, valued at $479,611,127.10. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the sale, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,178 shares of company stock worth $8,871,746 in the last three months. Insiders own 6.00% of the company’s stock.

Pure Storage Trading Down 0.3 %

NYSE PSTG opened at $72.15 on Friday. Pure Storage, Inc. has a 1-year low of $38.78 and a 1-year high of $73.67. The company has a 50 day moving average of $61.69 and a 200-day moving average of $57.05. The firm has a market cap of $23.54 billion, a price-to-earnings ratio of 189.87, a PEG ratio of 8.72 and a beta of 1.09.

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.