Jones Financial Companies Lllp Boosts Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Jones Financial Companies Lllp grew its stake in Pure Storage, Inc. (NYSE:PSTG) by 27.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,676 shares of the technology company’s stock after purchasing an additional 366 shares during the period. Jones Financial Companies Lllp’s holdings in Pure Storage were worth $103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Sugar Maple Asset Management LLC purchased a new position in Pure Storage in the fourth quarter worth approximately $29,000. Compass Financial Services Inc purchased a new position in Pure Storage in the fourth quarter worth approximately $29,000. Larson Financial Group LLC grew its position in Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after acquiring an additional 212 shares during the period. Berbice Capital Management LLC purchased a new position in Pure Storage in the fourth quarter worth approximately $37,000. Finally, Financial Life Planners purchased a new position in Pure Storage in the fourth quarter worth approximately $44,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSTG has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price objective on shares of Pure Storage in a research report on Thursday, February 27th. Lake Street Capital upped their price target on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Bank of America decreased their price target on Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Citigroup decreased their price target on Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 262,144 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the transaction, 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 disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

Pure Storage Price Performance

Pure Storage stock opened at $50.99 on Monday. Pure Storage, Inc. has a 1-year low of $44.76 and a 1-year high of $73.67. The stock has a market cap of $16.63 billion, a PE ratio of 134.17, a P/E/G ratio of 5.12 and a beta of 1.09. The stock’s fifty day moving average is $62.86 and its two-hundred day moving average is $57.34.

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.