JB Capital LLC Buys 2,568 Shares of Pure Storage, Inc. (NYSE:PSTG)

JB Capital LLC lifted its position in Pure Storage, Inc. (NYSE:PSTG) by 9.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 28,708 shares of the technology company’s stock after purchasing an additional 2,568 shares during the period. JB Capital LLC’s holdings in Pure Storage were worth $1,764,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mediolanum International Funds Ltd lifted its stake in Pure Storage by 45.8% in the 4th quarter. Mediolanum International Funds Ltd now owns 27,265 shares of the technology company’s stock worth $1,699,000 after purchasing an additional 8,559 shares in the last quarter. Gries Financial LLC bought a new stake in Pure Storage during the fourth quarter valued at $235,000. Swedbank AB grew its position in Pure Storage by 6.7% during the fourth quarter. Swedbank AB now owns 44,950 shares of the technology company’s stock worth $2,761,000 after buying an additional 2,812 shares in the last quarter. Forsta AP Fonden increased its stake in Pure Storage by 99.3% in the 4th quarter. Forsta AP Fonden now owns 134,500 shares of the technology company’s stock worth $8,262,000 after acquiring an additional 67,000 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in shares of Pure Storage by 32.6% in the 4th quarter. Perigon Wealth Management LLC now owns 5,918 shares of the technology company’s stock valued at $387,000 after acquiring an additional 1,455 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Down 0.7 %

Shares of PSTG stock opened at $67.89 on Monday. The business’s fifty day moving average is $63.36 and its 200 day moving average is $57.04. The stock has a market cap of $22.15 billion, a price-to-earnings ratio of 178.66, a PEG ratio of 8.18 and a beta of 1.09. Pure Storage, Inc. has a twelve month low of $38.78 and a twelve month high of $73.67.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Guggenheim upped their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. UBS Group upped their target price on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Lake Street Capital raised their price target on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI increased their price objective on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, William Blair restated an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Insider Buying and Selling

In related news, insider Ajay Singh sold 19,972 shares of the company’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 value of $1,229,875.76. Following the transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the sale, the insider now directly owns 7,316,722 shares of the company’s stock, valued at approximately $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 valued at $8,871,746 over the last quarter. Corporate insiders own 6.00% of the company’s stock.

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.