922 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by Rise Advisors LLC

Rise Advisors LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 922 shares of the technology company’s stock, valued at approximately $48,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSTG. Naples Money Management LLC bought a new stake in shares of Pure Storage in the fourth quarter valued at about $25,000. Principal Securities Inc. bought a new stake in Pure Storage in the 4th quarter valued at about $31,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Pure Storage during the 4th quarter worth approximately $45,000. GAMMA Investing LLC increased its holdings in shares of Pure Storage by 197.4% during the first quarter. GAMMA Investing LLC now owns 928 shares of the technology company’s stock worth $48,000 after purchasing an additional 616 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Pure Storage in the fourth quarter valued at approximately $64,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Trading Down 3.5 %

Shares of PSTG stock opened at $65.94 on Friday. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The stock’s fifty day simple moving average is $58.30 and its 200 day simple moving average is $48.48. The company has a quick ratio of 1.96, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $21.42 billion, a P/E ratio of 235.50, a P/E/G ratio of 6.89 and a beta of 1.06.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company increased their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. TD Cowen increased their target price on Pure Storage from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Lake Street Capital boosted their price target on Pure Storage from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Northland Capmk downgraded shares of Pure Storage from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 30th. Finally, Evercore ISI raised their target price on shares of Pure Storage from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.42.

Insider Activity

In other news, insider Ajay Singh sold 37,588 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $53.54, for a total value of $2,012,461.52. Following the completion of the transaction, the insider now owns 380,834 shares of the company’s stock, valued at $20,389,852.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Ajay Singh sold 37,588 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $53.54, for a total value of $2,012,461.52. Following the sale, the insider now owns 380,834 shares of the company’s stock, valued at $20,389,852.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mallun Yen sold 4,818 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $64.78, for a total value of $312,110.04. Following the completion of the sale, the director now owns 35,498 shares of the company’s stock, valued at $2,299,560.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 291,399 shares of company stock valued at $15,578,814. 6.00% of the stock is currently owned by corporate insiders.

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.