GAMMA Investing LLC Has $197,000 Stake in Pure Storage, Inc. (NYSE:PSTG)

GAMMA Investing LLC lifted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 54.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,210 shares of the technology company’s stock after acquiring an additional 1,132 shares during the quarter. GAMMA Investing LLC’s holdings in Pure Storage were worth $197,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. FMR LLC grew its position 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 buying an additional 368,643 shares during the period. State Street Corp boosted its holdings in Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after acquiring an additional 626,427 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its stake in Pure Storage by 3.2% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock valued at $285,575,000 after acquiring an additional 177,559 shares during the period. Geode Capital Management LLC increased its stake in Pure Storage by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock valued at $269,798,000 after purchasing an additional 219,971 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Pure Storage by 22.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after acquiring an additional 747,034 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $64.12 on Thursday. The firm has a market capitalization of $20.92 billion, a PE ratio of 168.74, a price-to-earnings-growth ratio of 7.69 and a beta of 1.09. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 12 month low of $35.35 and a 12 month high of $70.41. The business’s 50-day moving average price is $57.85 and its 200-day moving average price is $56.73.

Analyst Ratings Changes

Several brokerages have weighed in on PSTG. Northland Securities restated a “market perform” rating and set a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. UBS Group raised their target price on Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Oppenheimer initiated coverage on shares of Pure Storage in a report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective for the company. Evercore ISI increased their target price on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Citigroup lifted their price target on Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One 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. Based on data from MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and an average target price of $72.70.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the transaction, the insider now directly owns 300,000 shares of the company’s stock, valued at $17,196,000. The trade was a 25.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 237,178 shares of company stock worth $14,603,746 over the last ninety days. Insiders own 6.00% of the company’s stock.

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.