2,393 Shares in Pure Storage, Inc. (NYSE:PSTG) Purchased by POM Investment Strategies LLC

POM Investment Strategies LLC acquired a new position in Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,393 shares of the technology company’s stock, valued at approximately $147,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. boosted its position in shares of Pure Storage by 11.3% during the third quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after purchasing an additional 14,659 shares in the last quarter. TT International Asset Management LTD boosted 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 buying an additional 67,285 shares in the last quarter. FMR LLC grew its position in shares of Pure Storage by 0.8% in 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. Asio Capital LLC bought a new position in shares of Pure Storage in the 4th quarter worth about $264,000. Finally, Bank of Montreal Can lifted its position in Pure Storage by 92.0% during the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock valued at $9,570,000 after acquiring an additional 92,762 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

PSTG has been the topic of a number of recent research reports. Oppenheimer assumed coverage on shares of Pure Storage in a report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective on the stock. Northland Securities reaffirmed a “market perform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Lake Street Capital boosted their target price on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. One equities 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Pure Storage Trading Up 2.7 %

Shares of PSTG stock opened at $70.94 on Tuesday. Pure Storage, Inc. has a 12 month low of $38.78 and a 12 month high of $73.67. The stock has a market cap of $23.14 billion, a P/E ratio of 186.69, a P/E/G ratio of 5.26 and a beta of 1.09. The company has a 50 day simple moving average of $64.89 and a two-hundred day simple moving average of $57.33.

Insider Transactions at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the sale, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock worth $8,871,746 in the last three months. Corporate insiders own 6.00% of the company’s stock.

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.