465 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by Sugar Maple Asset Management LLC

Sugar Maple Asset Management LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 465 shares of the technology company’s stock, valued at approximately $29,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in shares of Pure Storage during the third quarter valued at about $31,000. Larson Financial Group LLC increased 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 in the last quarter. Venturi Wealth Management LLC raised 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 worth $38,000 after buying an additional 219 shares during the period. nVerses Capital LLC bought a new position in Pure Storage in the third quarter worth approximately $50,000. Finally, Covestor Ltd boosted its holdings in Pure Storage by 175.3% in the third quarter. Covestor Ltd now owns 991 shares of the technology company’s stock worth $50,000 after acquiring an additional 631 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Trading Up 5.7 %

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

Insiders Place Their Bets

In other news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction dated 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 completion of the transaction, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the sale, the executive now owns 72,927 shares in the company, valued at $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock valued at $8,871,746 over the last ninety days. 6.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PSTG. Morgan Stanley upped their target price on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. TD Cowen lifted their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus increased their price objective on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.