Golden State Wealth Management LLC Makes New Investment in Pure Storage, Inc. (NYSE:PSTG)

Golden State Wealth Management LLC purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, Holdings Channel.com reports. The firm purchased 1,080 shares of the technology company’s stock, valued at approximately $66,000.

Other institutional investors have also recently made changes to their positions in the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Pure Storage in the 4th quarter valued at about $29,000. ORG Wealth Partners LLC bought a new position in shares of Pure Storage in the third quarter worth approximately $31,000. Larson Financial Group LLC raised its stake 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 in the last quarter. Berbice Capital Management LLC bought a new stake in Pure Storage during the fourth quarter valued at approximately $37,000. Finally, Venturi Wealth Management LLC grew 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 worth $38,000 after buying an additional 219 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on PSTG shares. UBS Group increased their target price on 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 price objective 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 boosted their target price on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Morgan Stanley increased their price target on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Citigroup boosted their price objective on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment 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. According to MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Pure Storage Stock Up 2.7 %

Shares of PSTG stock opened at $70.94 on Tuesday. The firm has a market capitalization of $23.14 billion, a PE ratio of 186.69, a P/E/G ratio of 5.26 and a beta of 1.09. The company has a 50 day moving average price of $64.89 and a 200-day moving average price of $57.33. Pure Storage, Inc. has a 52 week low of $38.78 and a 52 week high of $73.67.

Insider Activity

In other news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction dated 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the sale, the chief accounting officer now owns 67,681 shares of the company’s stock, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock valued at $8,871,746 in the last ninety days. 6.00% of the stock is currently owned by company insiders.

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.