MBM Wealth Consultants LLC Has $695,000 Stock Position in Pure Storage, Inc. (NYSE:PSTG)

MBM Wealth Consultants LLC boosted its position in Pure Storage, Inc. (NYSE:PSTG) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,120 shares of the technology company’s stock after acquiring an additional 425 shares during the period. MBM Wealth Consultants LLC’s holdings in Pure Storage were worth $695,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Pure Storage in the fourth quarter worth approximately $29,000. ORG Wealth Partners LLC bought a new stake in Pure Storage during the third quarter worth $31,000. Larson Financial Group LLC raised its position 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 buying an additional 212 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after acquiring an additional 219 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Pure Storage during the 3rd quarter worth $50,000. Institutional investors own 83.42% of the company’s stock.

Insiders Place Their Bets

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was 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 $16,142,827.52. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This represents a 1.35 % 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 worth $8,871,746 in the last three months. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Trading Up 5.7 %

PSTG stock opened at $70.08 on Wednesday. The firm has a 50 day moving average of $59.91 and a 200-day moving average of $56.74. The firm has a market capitalization of $22.86 billion, a P/E ratio of 184.43, a price-to-earnings-growth ratio of 8.00 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $38.78 and a 12 month high of $70.41.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Northland Securities restated a “market perform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Morgan Stanley increased their price target on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Oppenheimer initiated coverage on Pure Storage in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Stifel Nicolaus raised their target price on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.70.

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.