Financial Life Planners Acquires New Shares in Pure Storage, Inc. (NYSE:PSTG)

Financial Life Planners bought a new position in Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 712 shares of the technology company’s stock, valued at approximately $44,000.

A number of other hedge funds have also added to or reduced their stakes in PSTG. Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage in the fourth quarter valued at approximately $29,000. ORG Wealth Partners LLC purchased a new stake in Pure Storage in the 3rd quarter worth approximately $31,000. Larson Financial Group LLC boosted its holdings in 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 purchasing an additional 212 shares during the period. Berbice Capital Management LLC purchased a new position in shares of Pure Storage during the 4th quarter valued at $37,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Pure Storage by 40.9% in the third 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. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Down 1.5 %

NYSE:PSTG opened at $66.80 on Tuesday. The firm has a market capitalization of $21.79 billion, a P/E ratio of 175.79, a P/E/G ratio of 8.18 and a beta of 1.09. The company has a fifty day moving average of $63.36 and a 200 day moving average of $57.02. Pure Storage, Inc. has a 52 week low of $38.78 and a 52 week high of $73.67.

Insider Activity

In related news, CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the sale, the chief accounting officer now owns 67,681 shares of the company’s stock, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction 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 completion of 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,178 shares of company stock valued at $8,871,746. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

PSTG has been the subject of several research analyst reports. Needham & Company LLC lifted their price objective on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer initiated coverage on Pure Storage in a report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price objective for the company. UBS Group raised their target price on shares of Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Evercore ISI boosted their price target on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, TD Cowen raised their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

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.