Oak Thistle LLC Makes New $1.20 Million Investment in Pure Storage, Inc. (NYSE:PSTG)

Oak Thistle LLC purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 19,463 shares of the technology company’s stock, valued at approximately $1,196,000.

Several other institutional investors and hedge funds have also modified their holdings of PSTG. Sycomore Asset Management acquired a new position in Pure Storage during the second quarter worth $2,259,000. Citigroup Inc. increased its holdings in shares of Pure Storage by 11.3% during the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after acquiring an additional 14,659 shares during the last quarter. TT International Asset Management LTD increased its holdings in shares of Pure Storage by 1,160.1% during the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock valued at $3,671,000 after acquiring an additional 67,285 shares during the last quarter. FMR LLC raised its stake in shares of Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after acquiring an additional 368,643 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Pure Storage by 92.0% in the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock worth $9,570,000 after purchasing an additional 92,762 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Up 1.1 %

Shares of NYSE:PSTG opened at $63.30 on Wednesday. The company has a market capitalization of $20.65 billion, a PE ratio of 166.58, a P/E/G ratio of 7.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77. The company’s fifty day moving average is $58.91 and its 200-day moving average is $56.69. Pure Storage, Inc. has a 52 week low of $35.35 and a 52 week high of $70.41.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PSTG shares. UBS Group upped their price objective on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their target price on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Needham & Company LLC raised their price objective on shares of Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus boosted their target price on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was 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 directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 237,178 shares of company stock worth $14,603,746 over the last ninety days. Corporate 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.