Pure Storage, Inc. (NYSE:PSTG) Holdings Increased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its stake in Pure Storage, Inc. (NYSE:PSTG) by 59.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,692 shares of the technology company’s stock after acquiring an additional 24,232 shares during the period. Janney Montgomery Scott LLC’s holdings in Pure Storage were worth $3,974,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new stake in Pure Storage in the 4th quarter valued at about $29,000. ORG Wealth Partners LLC bought a new stake in shares of Pure Storage in the 3rd quarter worth approximately $31,000. Larson Financial Group LLC lifted its stake in Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after buying an additional 219 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in Pure Storage in the third quarter worth approximately $50,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $68.37 on Friday. The business has a 50 day simple moving average of $62.70 and a 200 day simple moving average of $57.00. Pure Storage, Inc. has a 52 week low of $38.78 and a 52 week high of $73.67. The stock has a market cap of $22.31 billion, a price-to-earnings ratio of 179.93, a PEG ratio of 8.72 and a beta of 1.09.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PSTG. William Blair reiterated an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Stifel Nicolaus upped their target price on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. TD Cowen lifted their price target on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Oppenheimer assumed coverage on shares of Pure Storage in a report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Insider Buying and Selling at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now directly owns 72,927 shares in the company, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the sale, the insider now directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock worth $8,871,746 over the last ninety days. 6.00% of the stock is currently owned by insiders.

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.