Savant Capital LLC Raises Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Savant Capital LLC raised its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,359 shares of the technology company’s stock after buying an additional 358 shares during the quarter. Savant Capital LLC’s holdings in Pure Storage were worth $1,128,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Compass Financial Services Inc bought a new stake in Pure Storage during the fourth quarter worth about $29,000. Newbridge Financial Services Group Inc. boosted its position in shares of Pure Storage by 5,204.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,167 shares of the technology company’s stock worth $72,000 after purchasing an additional 1,145 shares in the last quarter. Essex LLC purchased a new stake in shares of Pure Storage in the 4th quarter worth approximately $226,000. Stephens Inc. AR raised its stake in Pure Storage by 4.3% during the fourth quarter. Stephens Inc. AR now owns 9,913 shares of the technology company’s stock valued at $609,000 after buying an additional 410 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in Pure Storage during the fourth quarter valued at $282,000. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PSTG shares. Citigroup lifted their price target on Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Stifel Nicolaus increased their price target on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Lake Street Capital boosted their price objective on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley lifted their target price on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

Pure Storage Price Performance

NYSE:PSTG opened at $67.78 on Friday. Pure Storage, Inc. has a one year low of $38.78 and a one year high of $73.67. The business has a fifty day moving average price of $65.67 and a 200-day moving average price of $57.63. The firm has a market capitalization of $22.11 billion, a price-to-earnings ratio of 178.38, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 8,311 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the transaction, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the sale, the insider now directly owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,178 shares of company stock valued at $8,871,746. Company 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.