Sargent Investment Group LLC Purchases Shares of 8,767 Pure Storage, Inc. (NYSE:PSTG)

Sargent Investment Group LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,767 shares of the technology company’s stock, valued at approximately $549,000.

Other hedge funds also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new position in shares of Pure Storage in the fourth quarter worth about $29,000. Berbice Capital Management LLC acquired a new position in shares of Pure Storage in the fourth quarter worth about $37,000. ORG Wealth Partners LLC acquired a new position in shares of Pure Storage in the third quarter worth about $31,000. Larson Financial Group LLC raised its position 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 worth $32,000 after acquiring an additional 212 shares during the period. Finally, Financial Life Planners acquired a new position in shares of Pure Storage in the fourth quarter worth about $44,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the transaction, the insider now owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 137,178 shares of company stock valued at $8,871,746. Company insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

PSTG has been the subject of a number of analyst reports. Lake Street Capital upped their price objective 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. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. Stifel Nicolaus upped their price target on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target 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. Finally, Barclays upped their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Pure Storage Stock Performance

NYSE:PSTG opened at $68.27 on Wednesday. The stock has a market capitalization of $22.27 billion, a P/E ratio of 179.67, a PEG ratio of 8.18 and a beta of 1.09. The company has a 50 day moving average price of $63.62 and a 200 day moving average price of $57.06. Pure Storage, Inc. has a fifty-two week low of $38.78 and a fifty-two week high of $73.67.

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.