Congress Wealth Management LLC DE Sells 4,564 Shares of Pure Storage, Inc. (NYSE:PSTG)

Congress Wealth Management LLC DE trimmed its stake in Pure Storage, Inc. (NYSE:PSTG) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 242,673 shares of the technology company’s stock after selling 4,564 shares during the period. Congress Wealth Management LLC DE’s holdings in Pure Storage were worth $14,907,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new stake in shares of Pure Storage in the 4th quarter worth about $29,000. Compass Financial Services Inc bought a new stake in Pure Storage during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Pure Storage during the fourth quarter worth approximately $31,000. Larson Financial Group LLC raised its stake in shares of 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 acquiring an additional 212 shares during the last quarter. Finally, Berbice Capital Management LLC acquired a new position in shares of Pure Storage in the 4th quarter worth approximately $37,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction dated 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 trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Stock Up 3.4 %

Shares of NYSE PSTG opened at $52.89 on Tuesday. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The company’s fifty day moving average is $61.33 and its 200-day moving average is $57.42. The stock has a market cap of $17.25 billion, a price-to-earnings ratio of 139.19, a P/E/G ratio of 5.12 and a beta of 1.09.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price target on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Northland Securities reissued a “market perform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Finally, Barclays upped their price objective on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

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.