Kestra Investment Management LLC Acquires Shares of 4,512 Pure Storage, Inc. (NYSE:PSTG)

Kestra Investment Management LLC acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 4,512 shares of the technology company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its stake in Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after buying an additional 161 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Pure Storage by 242.9% in the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after acquiring an additional 306 shares during the last quarter. FSC Wealth Advisors LLC acquired a new stake in shares of Pure Storage during the 2nd quarter worth about $33,000. ORG Partners LLC purchased a new stake in Pure Storage during the second quarter worth approximately $35,000. Finally, ORG Wealth Partners LLC acquired a new position in Pure Storage in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the sale, the insider now directly owns 300,000 shares in the company, valued at approximately $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 accessible through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.67, for a total transaction of $450,709.65. Following the completion of the transaction, the executive now owns 94,446 shares of the company’s stock, valued at $4,785,578.82. This represents a 8.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 354,542 shares of company stock worth $18,599,030. Company insiders own 6.00% of the company’s stock.

Pure Storage Stock Up 0.1 %

PSTG stock opened at $53.05 on Tuesday. Pure Storage, Inc. has a one year low of $31.79 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The company has a fifty day moving average of $52.12 and a 200-day moving average of $56.76. The stock has a market capitalization of $17.38 billion, a PE ratio of 132.63, a price-to-earnings-growth ratio of 7.19 and a beta of 1.13.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Needham & Company LLC cut their price objective on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Raymond James dropped their target price on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Guggenheim boosted their price target on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Piper Sandler dropped their price objective on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Citigroup cut their target price on Pure Storage from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.95.

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.