Integrity Wealth Solutions LLC Acquires New Stake in Pure Storage, Inc. (NYSE:PSTG)

Integrity Wealth Solutions LLC bought a new stake in Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,125 shares of the technology company’s stock, valued at approximately $622,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock valued at $137,628,000 after purchasing an additional 1,730,123 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after buying an additional 747,034 shares during the period. State Street Corp increased its stake in shares of Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after acquiring an additional 626,427 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Pure Storage during the 3rd quarter worth about $20,470,000. Finally, FMR LLC boosted its position in shares of Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after acquiring an additional 368,643 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of the company’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 value of $6,555,000.00. Following the sale, the insider now owns 7,316,722 shares in the company, valued at $479,611,127.10. The trade was a 1.35 % decrease in their position. 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 owned by insiders.

Pure Storage Stock Performance

NYSE:PSTG opened at $65.27 on Tuesday. The stock has a market cap of $21.29 billion, a price-to-earnings ratio of 171.76, a price-to-earnings-growth ratio of 8.72 and a beta of 1.09. Pure Storage, Inc. has a one year low of $38.78 and a one year high of $73.67. The business’s 50-day simple moving average is $61.69 and its 200 day simple moving average is $56.91.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PSTG. Stifel Nicolaus increased their price target on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Needham & Company LLC increased their target price on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price target on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, William Blair reiterated an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

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.