Pure Storage, Inc. (NYSE:PSTG) Stock Holdings Increased by Kestra Investment Management LLC

Kestra Investment Management LLC lifted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 58.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,148 shares of the technology company’s stock after purchasing an additional 2,636 shares during the quarter. Kestra Investment Management LLC’s holdings in Pure Storage were worth $439,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Sugar Maple Asset Management LLC acquired a new position in Pure Storage during the 4th quarter valued at about $29,000. Compass Financial Services Inc acquired a new position in shares of Pure Storage during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC raised 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 purchasing an additional 212 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in Pure Storage in the fourth quarter worth approximately $37,000. Finally, Venturi Wealth Management LLC boosted 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 purchasing an additional 219 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. UBS Group upped their price objective on Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer started coverage on shares of Pure Storage in a report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 target price on the stock. Citigroup raised their target price on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Barclays upped their price target 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 investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Pure Storage has an average rating of “Moderate Buy” and a consensus price target of $72.70.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now owns 262,144 shares in the company, 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 have sold a total of 137,178 shares of company stock worth $8,871,746 in the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

Shares of PSTG opened at $67.94 on Thursday. The company has a market capitalization of $22.17 billion, a PE ratio of 178.80, a PEG ratio of 5.12 and a beta of 1.09. The company’s 50 day moving average price is $65.98 and its 200 day moving average price is $57.86. Pure Storage, Inc. has a 52 week low of $38.78 and a 52 week 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.