Stephens Inc. AR Grows Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Stephens Inc. AR raised its stake in Pure Storage, Inc. (NYSE:PSTG) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,913 shares of the technology company’s stock after buying an additional 410 shares during the period. Stephens Inc. AR’s holdings in Pure Storage were worth $609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new stake in Pure Storage in the 4th quarter valued at about $29,000. 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 worth $32,000 after purchasing an additional 212 shares during the period. Berbice Capital Management LLC purchased a new stake in shares of Pure Storage in the 4th quarter worth approximately $37,000. Venturi Wealth Management LLC lifted its position in shares of 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. Finally, Financial Life Planners purchased a new stake in shares of Pure Storage in the 4th quarter worth approximately $44,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the sale, the insider now directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This 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 on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock valued at $8,871,746 in the last ninety days. Insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PSTG. UBS Group upped 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. Barclays upped their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. Finally, Evercore ISI boosted their price objective 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Pure Storage Price Performance

PSTG stock opened at $67.78 on Friday. The firm’s fifty day simple moving average is $65.67 and its 200-day simple moving average is $57.63. The company has a market capitalization of $22.11 billion, a P/E ratio of 178.38, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $38.78 and a 12 month 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.