Secured Retirement Advisors LLC Invests $978,000 in Pure Storage, Inc. (NYSE:PSTG)

Secured Retirement Advisors LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,918 shares of the technology company’s stock, valued at approximately $978,000.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. State Street Corp boosted its stake in Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after acquiring an additional 626,427 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in shares of Pure Storage by 3.2% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock worth $285,575,000 after purchasing an additional 177,559 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Pure Storage by 4.3% during the third quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock worth $269,798,000 after purchasing an additional 219,971 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after purchasing an additional 747,034 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup raised their price target on Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays lifted their target price on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Oppenheimer started coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Northland Securities reiterated a “market perform” rating and set a $63.00 target price (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pure Storage presently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Pure Storage Trading Up 0.4 %

Shares of PSTG opened at $67.78 on Friday. Pure Storage, Inc. has a twelve month low of $38.78 and a twelve month high of $73.67. The firm has a market capitalization of $22.11 billion, a P/E ratio of 178.38, a PEG ratio of 5.26 and a beta of 1.09. The firm’s 50-day moving average is $65.73 and its two-hundred day moving average is $57.70.

Insider Transactions at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated 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 transaction, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. This represents a 7.08 % 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 quarter. 6.00% of the stock is currently owned by corporate insiders.

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.