Summit Creek Advisors LLC Buys 1,099 Shares of Pure Storage, Inc. (NYSE:PSTG)

Summit Creek Advisors LLC grew its stake in Pure Storage, Inc. (NYSE:PSTG) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 373,369 shares of the technology company’s stock after purchasing an additional 1,099 shares during the period. Pure Storage makes up approximately 3.0% of Summit Creek Advisors LLC’s portfolio, making the stock its 9th biggest holding. Summit Creek Advisors LLC owned about 0.11% of Pure Storage worth $22,936,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC increased its holdings in shares of Pure Storage by 1.4% in the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock valued at $815,000 after purchasing an additional 186 shares during the period. Cherry Creek Investment Advisors Inc. grew its holdings in Pure Storage by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock worth $4,130,000 after acquiring an additional 189 shares during the period. Larson Financial Group LLC grew its holdings in Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after acquiring an additional 212 shares during the period. Brookstone Capital Management grew its holdings in Pure Storage by 3.1% during the fourth quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock worth $486,000 after acquiring an additional 240 shares during the period. Finally, KBC Group NV grew its holdings in Pure Storage by 0.6% during the fourth quarter. KBC Group NV now owns 39,523 shares of the technology company’s stock worth $2,428,000 after acquiring an additional 246 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares in the company, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the sale, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Pure Storage Trading Up 0.6 %

NYSE PSTG opened at $51.11 on Monday. The business’s 50-day moving average price is $61.53 and its 200 day moving average price is $57.38. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The company has a market capitalization of $16.67 billion, a PE ratio of 134.51, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Analyst Ratings Changes

PSTG has been the topic of a number of recent analyst reports. Evercore ISI upped their price objective on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Stifel Nicolaus upped their price objective on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their target price on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Barclays upped their target price on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Company 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.