IQ EQ FUND MANAGEMENT IRELAND Ltd Buys Shares of 9,260 Pure Storage, Inc. (NYSE:PSTG)

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,260 shares of the technology company’s stock, valued at approximately $569,000.

A number of other institutional investors have also modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new position in Pure Storage during the 4th quarter valued at about $29,000. Compass Financial Services Inc purchased a new stake in shares of Pure Storage during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Pure Storage during the fourth quarter valued at about $31,000. Larson Financial Group LLC raised its position in shares of Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares during the last quarter. Finally, Berbice Capital Management LLC acquired a new stake in Pure Storage in the 4th quarter worth approximately $37,000. 83.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on PSTG shares. Citigroup cut their price target on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. UBS Group boosted their price target on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. Northland Securities restated a “market perform” rating and issued a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their target price on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.20.

Insider Activity at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the firm’s 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.00% of the stock is owned by corporate insiders.

Pure Storage Price Performance

Pure Storage stock opened at $46.00 on Friday. The stock has a market capitalization of $15.01 billion, a PE ratio of 121.04, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The business has a 50 day simple moving average of $60.09 and a 200-day simple moving average of $57.36. Pure Storage, Inc. has a 12 month low of $44.76 and a 12 month high of $73.67.

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.