Sugar Maple Asset Management LLC Invests $29,000 in Pure Storage, Inc. (NYSE:PSTG)

Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 465 shares of the technology company’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSTG. ORG Wealth Partners LLC purchased a new position in shares of Pure Storage during the 3rd quarter valued at $31,000. Larson Financial Group LLC boosted its stake in Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after buying an additional 212 shares during the period. Venturi Wealth Management LLC grew its position in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after buying an additional 219 shares in the last quarter. nVerses Capital LLC bought a new position in Pure Storage in the 3rd quarter worth about $50,000. Finally, Covestor Ltd raised its holdings in shares of Pure Storage by 175.3% in the 3rd quarter. Covestor Ltd now owns 991 shares of the technology company’s stock valued at $50,000 after acquiring an additional 631 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the transaction, the chief accounting officer now owns 67,681 shares in the company, valued at $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the sale, the insider now owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PSTG has been the topic of several research analyst reports. Evercore ISI upped their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Oppenheimer assumed 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. Citigroup lifted their price objective on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays increased their target price on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Finally, TD Cowen lifted their price target on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.70.

Pure Storage Trading Up 5.7 %

Pure Storage stock opened at $70.08 on Wednesday. Pure Storage, Inc. has a 1-year low of $38.78 and a 1-year high of $70.41. The firm has a market cap of $22.86 billion, a P/E ratio of 184.43, a P/E/G ratio of 8.00 and a beta of 1.09. The firm has a 50-day moving average of $59.91 and a 200-day moving average of $56.74.

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.