Avalon Trust Co Makes New $106,000 Investment in Pure Storage, Inc. (NYSE:PSTG)

Avalon Trust Co acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,725 shares of the technology company’s stock, valued at approximately $106,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cherry Creek Investment Advisors Inc. boosted its stake in Pure Storage by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock worth $4,130,000 after buying an additional 189 shares during the period. Larson Financial Group LLC boosted its stake in Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after buying an additional 212 shares during the period. Venturi Wealth Management LLC boosted its stake in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after buying an additional 219 shares during the period. Brookstone Capital Management boosted its stake in Pure Storage by 3.1% during the fourth quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock worth $486,000 after buying an additional 240 shares during the period. Finally, KBC Group NV boosted its stake in Pure Storage by 0.6% during the fourth quarter. KBC Group NV now owns 39,523 shares of the technology company’s stock worth $2,428,000 after buying an additional 246 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the transaction, the executive now owns 72,927 shares in the company, valued at $4,675,349.97. This represents 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 this hyperlink. Also, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Stock Performance

Shares of Pure Storage stock opened at $50.99 on Friday. The company has a market capitalization of $16.63 billion, a PE ratio of 134.17, a P/E/G ratio of 5.12 and a beta of 1.09. The company has a 50-day simple moving average of $62.86 and a two-hundred day simple moving average of $57.36. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several recent analyst reports. Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. TD Cowen boosted their target price on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and set a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Barclays boosted their target price on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $73.20.

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.