Portfolio Design Labs LLC Takes Position in Pure Storage, Inc. (NYSE:PSTG)

Portfolio Design Labs LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, Holdings Channel reports. The firm purchased 5,083 shares of the technology company’s stock, valued at approximately $312,000.

Other large investors have also made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new position in Pure Storage in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc acquired a new position in Pure Storage in the fourth quarter valued at approximately $29,000. Berbice Capital Management LLC acquired a new position in Pure Storage in the fourth quarter valued at approximately $37,000. ORG Wealth Partners LLC acquired a new position in Pure Storage in the third quarter valued at approximately $31,000. Finally, Larson Financial Group LLC lifted its holdings in Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after acquiring an additional 212 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays upped their price target on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Evercore ISI upped their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. William Blair restated an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Finally, Oppenheimer assumed coverage on Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Insider Activity at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock valued at $8,871,746 over the last quarter. 6.00% of the stock is owned by insiders.

Pure Storage Price Performance

NYSE:PSTG opened at $67.28 on Thursday. The firm has a market capitalization of $21.95 billion, a PE ratio of 177.06, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09. The business’s fifty day moving average price is $65.53 and its 200 day moving average price is $57.49. Pure Storage, Inc. has a 12 month low of $38.78 and a 12 month high of $73.67.

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.