Harvest Fund Management Co. Ltd Purchases 24,070 Shares of Pure Storage, Inc. (NYSE:PSTG)

Harvest Fund Management Co. Ltd boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 811.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,037 shares of the technology company’s stock after acquiring an additional 24,070 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Pure Storage were worth $1,661,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSTG. Sugar Maple Asset Management LLC bought a new stake in Pure Storage during the 4th quarter worth approximately $29,000. Compass Financial Services Inc purchased a new stake in Pure Storage during the 4th quarter valued at approximately $29,000. Larson Financial Group LLC grew its holdings in Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after buying an additional 212 shares in the last quarter. Berbice Capital Management LLC purchased a new stake in Pure Storage during the 4th quarter valued at approximately $37,000. Finally, Financial Life Planners purchased a new stake in Pure Storage during the 4th quarter valued at approximately $44,000. Institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PSTG shares. Bank of America cut their price objective on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. StockNews.com lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Wells Fargo & Company increased their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. TD Cowen increased their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Trading Up 3.4 %

NYSE:PSTG opened at $51.56 on Thursday. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The company has a market cap of $16.82 billion, a price-to-earnings ratio of 135.69, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The stock has a fifty day simple moving average of $62.07 and a 200-day simple moving average of $57.29.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated 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 directly owns 72,927 shares in the company, valued at $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction dated 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 completion of the sale, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

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.