Oppenheimer & Co. Inc. Takes $415,000 Position in Pure Storage, Inc. (NYSE:PSTG)

Oppenheimer & Co. Inc. purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,757 shares of the technology company’s stock, valued at approximately $415,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage during the fourth quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new stake in Pure Storage during the fourth quarter worth $29,000. Larson Financial Group LLC boosted its position in Pure Storage by 49.1% during the 3rd 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 in the last quarter. Berbice Capital Management LLC purchased a new position in shares of Pure Storage in the 4th quarter valued at $37,000. Finally, Venturi Wealth Management LLC raised its position in shares of Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after acquiring an additional 219 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling

In related news, CAO Mona Chu sold 8,311 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at approximately $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the 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 completion of the transaction, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,178 shares of company stock valued at $2,316,746. 6.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Bank of America reduced their price target on Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Stifel Nicolaus raised their price objective on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Northland Securities reissued a “market perform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Stock Performance

PSTG opened at $49.34 on Friday. The company has a market capitalization of $16.09 billion, a PE ratio of 129.83, a P/E/G ratio of 5.12 and a beta of 1.09. The stock’s fifty day moving average is $64.22 and its 200-day moving average is $57.82. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67.

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.