Oak Thistle LLC Buys Shares of 19,463 Pure Storage, Inc. (NYSE:PSTG)

Oak Thistle LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 19,463 shares of the technology company’s stock, valued at approximately $1,196,000.

Other institutional investors also recently modified their holdings of the company. Choreo LLC acquired a new position in shares of Pure Storage in the 2nd quarter valued at $203,000. American Century Companies Inc. grew its stake in Pure Storage by 119.3% in the second quarter. American Century Companies Inc. now owns 164,050 shares of the technology company’s stock valued at $10,534,000 after acquiring an additional 89,255 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Pure Storage by 534.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 47,692 shares of the technology company’s stock valued at $3,144,000 after acquiring an additional 40,170 shares during the period. Federated Hermes Inc. increased its holdings in shares of Pure Storage by 265.3% in the second quarter. Federated Hermes Inc. now owns 156,431 shares of the technology company’s stock worth $10,044,000 after acquiring an additional 113,603 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd acquired a new stake in shares of Pure Storage during the second quarter worth about $796,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PSTG. Wells Fargo & Company boosted their price objective on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI raised their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. UBS Group upped their target price on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Citigroup increased their target price on Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, TD Cowen increased their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.70.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $63.30 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average price is $58.91 and its two-hundred day moving average price is $56.69. The company has a market cap of $20.65 billion, a PE ratio of 166.58, a price-to-earnings-growth ratio of 7.69 and a beta of 1.09. Pure Storage, Inc. has a twelve month low of $35.35 and a twelve month high of $70.41.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the completion of the sale, the insider now owns 300,000 shares of the company’s stock, valued at approximately $17,196,000. The trade was a 25.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the company’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 completion of the transaction, the chief accounting officer now owns 67,681 shares in the company, valued at approximately $4,207,050.96. This trade represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 237,178 shares of company stock worth $14,603,746. 6.00% of the stock is owned by company insiders.

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.