Cherry Creek Investment Advisors Inc. Buys 189 Shares of Pure Storage, Inc. (NYSE:PSTG)

Cherry Creek Investment Advisors Inc. lifted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 67,232 shares of the technology company’s stock after purchasing an additional 189 shares during the period. Pure Storage comprises 2.0% of Cherry Creek Investment Advisors Inc.’s investment portfolio, making the stock its 15th biggest position. Cherry Creek Investment Advisors Inc.’s holdings in Pure Storage were worth $4,130,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings 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 period. State Street Corp lifted its position in shares of Pure Storage by 6.5% in the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after acquiring an additional 626,427 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Pure Storage by 3.2% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock valued at $285,575,000 after buying an additional 177,559 shares during the period. Geode Capital Management LLC increased its stake in Pure Storage by 4.3% in the third quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock valued at $269,798,000 after acquiring an additional 219,971 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after buying an additional 747,034 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of PSTG opened at $65.27 on Tuesday. The firm’s 50 day simple moving average is $61.69 and its 200 day simple moving average is $56.91. The company has a market capitalization of $21.29 billion, a P/E ratio of 171.76, a P/E/G ratio of 8.72 and a beta of 1.09. Pure Storage, Inc. has a 1-year low of $38.78 and a 1-year high of $73.67.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 $479,611,127.10. The trade was a 1.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were 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 approximately $4,675,349.97. This represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,178 shares of company stock valued at $8,871,746 over the last 90 days. 6.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley boosted their price objective on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. William Blair reissued an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. JPMorgan Chase & Co. upped their price objective on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Barclays boosted their price objective on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.