Berbice Capital Management LLC Invests $37,000 in Pure Storage, Inc. (NYSE:PSTG)

Berbice Capital Management LLC acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 603 shares of the technology company’s stock, valued at approximately $37,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Nvwm LLC raised its holdings in shares of Pure Storage by 23.3% in the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock worth $52,000 after acquiring an additional 194 shares during the last quarter. Larson Financial Group LLC increased its stake 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 during the last quarter. Venturi Wealth Management LLC increased 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 valued at $38,000 after buying an additional 219 shares during the last quarter. Brookstone Capital Management increased its stake in Pure Storage by 3.1% in the 4th quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock valued at $486,000 after buying an additional 240 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in Pure Storage by 3.6% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 7,461 shares of the technology company’s stock valued at $375,000 after buying an additional 259 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $72.78 on Friday. The firm has a fifty day moving average price of $60.75 and a two-hundred day moving average price of $56.89. Pure Storage, Inc. has a one year low of $38.78 and a one year high of $73.67. The company has a market cap of $23.74 billion, a price-to-earnings ratio of 191.41, a PEG ratio of 8.72 and a beta of 1.09.

Analysts Set New Price Targets

PSTG has been the subject of several analyst reports. Northland Securities reiterated a “market perform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. UBS Group increased their price objective on shares of Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Lake Street Capital increased their target price on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, William Blair reissued an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.70.

Insider Buying and Selling at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the firm’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 sale, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were 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 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 sold a total of 137,178 shares of company stock valued at $8,871,746 in the last three months. Company insiders own 6.00% of the company’s stock.

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.