Proficio Capital Partners LLC Acquires New Shares in Pure Storage, Inc. (NYSE:PSTG)

Proficio Capital Partners LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 83,115 shares of the technology company’s stock, valued at approximately $5,106,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Pure Storage by 363.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,553 shares of the technology company’s stock valued at $275,000 after acquiring an additional 4,356 shares during the period. abrdn plc boosted its position in shares of Pure Storage by 1,604.5% during the 3rd quarter. abrdn plc now owns 94,858 shares of the technology company’s stock worth $4,766,000 after purchasing an additional 89,293 shares during the period. Farther Finance Advisors LLC increased its holdings in Pure Storage by 30.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,077 shares of the technology company’s stock valued at $104,000 after purchasing an additional 489 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Pure Storage in the third quarter valued at approximately $2,033,000. Finally, Emerald Advisers LLC lifted its stake in Pure Storage by 39.2% during the third quarter. Emerald Advisers LLC now owns 5,935 shares of the technology company’s stock worth $298,000 after purchasing an additional 1,670 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Down 5.7 %

Shares of Pure Storage stock opened at $49.50 on Tuesday. Pure Storage, Inc. has a 52 week low of $44.76 and a 52 week high of $73.67. The firm’s 50 day moving average is $65.37 and its two-hundred day moving average is $58.09. The firm has a market capitalization of $16.15 billion, a P/E ratio of 130.27, a P/E/G ratio of 5.12 and a beta of 1.09.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PSTG shares. Stifel Nicolaus lifted their price objective on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Lake Street Capital lifted their target price on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. increased 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. StockNews.com cut shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

Insider Activity

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares in the company, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 262,144 shares in the company, 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. In the last quarter, insiders sold 137,178 shares of company stock worth $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.