Wealth Enhancement Advisory Services LLC Buys 1,395 Shares of Pure Storage, Inc. (NYSE:PSTG)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,500 shares of the technology company’s stock after acquiring an additional 1,395 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Pure Storage were worth $829,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Sycomore Asset Management bought a new stake in shares of Pure Storage during the second quarter valued at approximately $2,259,000. Citigroup Inc. increased its holdings in Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after buying an additional 14,659 shares during the period. TT International Asset Management LTD raised its stake in shares of Pure Storage by 1,160.1% in the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock valued at $3,671,000 after buying an additional 67,285 shares in the last quarter. FMR LLC lifted its holdings in shares of Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after acquiring an additional 368,643 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Pure Storage by 92.0% during the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock worth $9,570,000 after acquiring an additional 92,762 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity

In other news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the completion of the transaction, the insider now directly owns 300,000 shares of the company’s stock, valued at $17,196,000. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 237,178 shares of company stock valued at $14,603,746 over the last 90 days. 6.00% of the stock is owned by company insiders.

Pure Storage Stock Up 2.5 %

NYSE:PSTG opened at $64.82 on Thursday. The stock’s fifty day moving average price is $58.91 and its two-hundred day moving average price is $56.69. The company has a market cap of $21.15 billion, a price-to-earnings ratio of 170.58, a P/E/G ratio of 7.69 and a beta of 1.09. Pure Storage, Inc. has a 52-week low of $35.35 and a 52-week high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of analyst reports. Lake Street Capital upped their target price on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Guggenheim increased their target price on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer started coverage on Pure Storage in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price target on the stock. Finally, Barclays lifted their price objective on Pure Storage from $56.00 to $61.00 and gave the company 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 assigned a buy rating to the company’s stock. According to MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $72.70.

Pure Storage 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.