Pure Storage, Inc. (NYSE:PSTG) Stake Boosted by Atria Investments Inc

Atria Investments Inc grew its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,955 shares of the technology company’s stock after acquiring an additional 449 shares during the period. Atria Investments Inc’s holdings in Pure Storage were worth $489,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Citigroup Inc. grew its holdings in shares of Pure Storage by 11.3% during the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after acquiring an additional 14,659 shares in the last quarter. TT International Asset Management LTD grew its holdings in shares of Pure Storage by 1,160.1% during 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 acquiring an additional 67,285 shares in the last quarter. FMR LLC grew 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 valued at $2,469,487,000 after acquiring an additional 368,643 shares in the last quarter. Sycomore Asset Management grew its holdings in shares of Pure Storage by 57.8% during the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock valued at $11,541,000 after acquiring an additional 68,840 shares in the last quarter. Finally, Asio Capital LLC purchased a new position in shares of Pure Storage during the 4th quarter valued at $264,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $50.99 on Friday. The company’s 50 day simple moving average is $62.86 and its 200 day simple moving average is $57.36. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67. The firm has a market capitalization of $16.63 billion, a P/E ratio of 134.17, a P/E/G ratio of 5.12 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Bank of America lowered their price target on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Northland Securities reaffirmed a “market perform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Morgan Stanley lifted their price objective on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Evercore ISI boosted their target price on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Lake Street Capital boosted their target price on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.20.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the sale, the executive now directly owns 72,927 shares in the company, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.

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.