Financial Life Planners Takes $44,000 Position in Pure Storage, Inc. (NYSE:PSTG)

Financial Life Planners acquired a new stake in Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 712 shares of the technology company’s stock, valued at approximately $44,000.

Other large investors have also added to or reduced their stakes in the company. Cherry Creek Investment Advisors Inc. increased its position in Pure Storage by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock valued at $4,130,000 after acquiring an additional 189 shares during the period. Nvwm LLC grew its stake in shares of Pure Storage by 23.3% in the third quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock worth $52,000 after purchasing an additional 194 shares during the last quarter. Larson Financial Group LLC increased its holdings in Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares during the period. Venturi Wealth Management LLC raised its position 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 purchasing an additional 219 shares during the last quarter. Finally, Brookstone Capital Management lifted its holdings in Pure Storage by 3.1% during the 4th quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock worth $486,000 after buying an additional 240 shares during the period. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSTG. Northland Securities restated a “market perform” rating and set a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Lake Street Capital boosted their price target on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company upped their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lifted their target price on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus upped their price target on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.70.

Pure Storage Price Performance

NYSE:PSTG opened at $66.80 on Tuesday. 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 $21.79 billion, a PE ratio of 175.79, a PEG ratio of 8.18 and a beta of 1.09. The firm has a 50-day moving average of $63.36 and a 200-day moving average of $57.02.

Insiders Place Their Bets

In other news, CAO Mona Chu sold 8,311 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the sale, the chief accounting officer now owns 67,681 shares in the company, valued at $4,207,050.96. This represents a 10.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s 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 in the company, valued at $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,178 shares of company stock valued at $8,871,746. Corporate insiders own 6.00% of the company’s stock.

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.