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

Golden State Wealth Management LLC acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,080 shares of the technology company’s stock, valued at approximately $66,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Truist Financial Corp raised its holdings in shares of Pure Storage by 19.3% during the 2nd quarter. Truist Financial Corp now owns 12,561 shares of the technology company’s stock worth $807,000 after buying an additional 2,028 shares in the last quarter. UMB Bank n.a. raised its stake in Pure Storage by 26.0% during the third quarter. UMB Bank n.a. now owns 1,485 shares of the technology company’s stock worth $75,000 after acquiring an additional 306 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Pure Storage by 93.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,300 shares of the technology company’s stock worth $116,000 after acquiring an additional 1,111 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Pure Storage by 34.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 58,102 shares of the technology company’s stock valued at $2,919,000 after purchasing an additional 15,013 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Pure Storage during the 3rd quarter valued at approximately $226,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. William Blair reissued an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Guggenheim increased their price target on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Northland Securities restated a “market perform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. TD Cowen upped their target price on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Oppenheimer started coverage on Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. One 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 presently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Pure Storage Stock Performance

PSTG stock opened at $70.94 on Tuesday. The company has a market capitalization of $23.14 billion, a P/E ratio of 186.69, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09. Pure Storage, Inc. has a 52-week low of $38.78 and a 52-week high of $73.67. The business has a 50-day simple moving average of $64.89 and a two-hundred day simple moving average of $57.33.

Insider Buying and Selling

In other Pure Storage news, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the transaction, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction on Tuesday, December 31st. The shares were 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 trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is owned by 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.