MinichMacGregor Wealth Management LLC Purchases 29,610 Shares of Pure Storage, Inc. (NYSE:PSTG)

MinichMacGregor Wealth Management LLC grew its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 21.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 166,753 shares of the technology company’s stock after purchasing an additional 29,610 shares during the quarter. Pure Storage comprises approximately 2.1% of MinichMacGregor Wealth Management LLC’s portfolio, making the stock its 15th biggest position. MinichMacGregor Wealth Management LLC’s holdings in Pure Storage were worth $10,244,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sugar Maple Asset Management LLC purchased a new position in shares of Pure Storage in the fourth quarter worth $29,000. ORG Wealth Partners LLC acquired a new stake in shares of Pure Storage in the third quarter worth $31,000. Larson Financial Group LLC lifted its holdings in shares of 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 period. Venturi Wealth Management LLC grew its holdings in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after acquiring an additional 219 shares during the period. Finally, Covestor Ltd raised its position in Pure Storage by 175.3% during the third quarter. Covestor Ltd now owns 991 shares of the technology company’s stock valued at $50,000 after acquiring an additional 631 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated 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 directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,178 shares of company stock valued at $8,871,746. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

PSTG has been the topic of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Morgan Stanley lifted their price objective on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Lake Street Capital increased their target price on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Guggenheim lifted their price target on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Evercore ISI increased their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $72.33 on Thursday. Pure Storage, Inc. has a 1-year low of $38.78 and a 1-year high of $73.67. The stock has a market cap of $23.60 billion, a P/E ratio of 190.35, a P/E/G ratio of 8.45 and a beta of 1.09. The stock’s 50 day simple moving average is $60.31 and its 200-day simple moving average is $56.78.

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.