Veracity Capital LLC Sells 5,766 Shares of Pure Storage, Inc. (NYSE:PSTG)

Veracity Capital LLC cut its holdings in Pure Storage, Inc. (NYSE:PSTG) by 45.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,868 shares of the technology company’s stock after selling 5,766 shares during the period. Veracity Capital LLC’s holdings in Pure Storage were worth $422,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Pure Storage during the fourth quarter worth $29,000. ORG Wealth Partners LLC bought a new stake in shares of Pure Storage during the 3rd quarter valued at $31,000. Larson Financial Group LLC lifted its holdings in Pure Storage by 49.1% during the 3rd 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. Venturi Wealth Management LLC boosted its stake in Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after purchasing an additional 219 shares during the period. Finally, Covestor Ltd grew its holdings in Pure Storage by 175.3% during the 3rd quarter. Covestor Ltd now owns 991 shares of the technology company’s stock valued at $50,000 after buying an additional 631 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Stock Performance

PSTG stock opened at $72.44 on Friday. The firm has a market cap of $23.63 billion, a P/E ratio of 190.63, a P/E/G ratio of 8.72 and a beta of 1.09. The firm’s fifty day moving average is $60.75 and its 200 day moving average is $56.89. Pure Storage, Inc. has a 52 week low of $38.78 and a 52 week high of $73.67.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. William Blair restated an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Evercore ISI raised their price target on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Stifel Nicolaus upped their price target on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Barclays lifted their price objective on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Finally, Guggenheim upped their target price on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 7,316,722 shares in the company, valued at $479,611,127.10. This represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the sale, the chief accounting officer now directly 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. Over the last three months, insiders have sold 137,178 shares of company stock valued at $8,871,746. 6.00% of the stock is currently owned by insiders.

About Pure Storage

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.