Pure Storage, Inc. (NYSE:PSTG) Holdings Raised by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in Pure Storage, Inc. (NYSE:PSTG) by 22.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,990 shares of the technology company’s stock after purchasing an additional 1,472 shares during the quarter. Park Avenue Securities LLC’s holdings in Pure Storage were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new position in shares of Pure Storage in the third quarter worth about $31,000. Larson Financial Group LLC lifted its position in shares of Pure Storage by 49.1% in 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. Venturi Wealth Management LLC boosted its stake in 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 purchasing an additional 219 shares during the period. Covestor Ltd grew its position in Pure Storage by 175.3% during the 3rd quarter. Covestor Ltd now owns 991 shares of the technology company’s stock worth $50,000 after purchasing an additional 631 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Pure Storage during the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total value of $6,555,000.00. Following the transaction, the insider now directly owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at $4,207,050.96. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,178 shares of company stock valued at $8,871,746. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PSTG. Needham & Company LLC raised their target price on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lifted their target price on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. UBS Group increased their price target on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer started coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $72.44 on Friday. The stock has a market capitalization of $23.63 billion, a P/E ratio of 190.63, a P/E/G ratio of 8.45 and a beta of 1.09. The business has a 50-day moving average of $60.75 and a two-hundred day moving average of $56.89. Pure Storage, Inc. has a fifty-two week low of $38.78 and a fifty-two week 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.