Sei Investments Co. Acquires 234,478 Shares of Pure Storage, Inc. (NYSE:PSTG)

Sei Investments Co. boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 90.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 493,597 shares of the technology company’s stock after purchasing an additional 234,478 shares during the period. Sei Investments Co.’s holdings in Pure Storage were worth $30,322,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new stake in shares of Pure Storage in the 4th quarter valued at about $29,000. Compass Financial Services Inc bought a new stake in Pure Storage in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC boosted its stake in shares of Pure Storage by 49.1% during the third 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 period. Berbice Capital Management LLC bought a new position in shares of Pure Storage in the fourth quarter worth approximately $37,000. Finally, Financial Life Planners purchased a new position in shares of Pure Storage in the fourth quarter worth $44,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSTG has been the subject of several analyst reports. Barclays increased their price target on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Evercore ISI boosted their price target on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Lake Street Capital increased their price objective on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. TD Cowen boosted their target price on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Citigroup dropped their price target on Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Pure Storage Stock Up 0.2 %

Shares of PSTG opened at $52.96 on Wednesday. Pure Storage, Inc. has a 52 week low of $44.76 and a 52 week high of $73.67. The stock has a market cap of $17.28 billion, a P/E ratio of 139.37, a P/E/G ratio of 5.12 and a beta of 1.09. The business’s 50 day moving average price is $61.12 and its 200-day moving average price is $57.47.

Insider Transactions at Pure Storage

In other Pure Storage news, 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 transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.00% of the stock is owned by insiders.

About Pure Storage

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.