Veracity Capital LLC Has $422,000 Stake in Pure Storage, Inc. (NYSE:PSTG)

Veracity Capital LLC cut its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 45.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,868 shares of the technology company’s stock after selling 5,766 shares during the quarter. Veracity Capital LLC’s holdings in Pure Storage were worth $422,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PSTG. Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage during the 4th quarter worth approximately $29,000. ORG Wealth Partners LLC acquired a new position in shares of Pure Storage during the 3rd quarter valued at $31,000. 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 acquiring an additional 212 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after purchasing an additional 219 shares during the period. Finally, nVerses Capital LLC bought a new stake in Pure Storage in the third quarter valued at $50,000. Institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Up 0.2 %

Shares of Pure Storage stock opened at $72.44 on Friday. The firm has a market capitalization of $23.63 billion, a P/E ratio of 190.63, a price-to-earnings-growth ratio of 8.72 and a beta of 1.09. The business’s fifty day simple moving average is $60.75 and its 200 day simple moving average is $56.89. Pure Storage, Inc. has a 12 month low of $38.78 and a 12 month high of $73.67.

Wall Street Analyst Weigh In

PSTG has been the topic of a number of research analyst reports. Guggenheim increased their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. TD Cowen increased their price target on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays boosted their price objective on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. increased their target price on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, UBS Group boosted their price target on shares of Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.70.

Insider Transactions at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the sale, the executive now directly owns 72,927 shares in the company, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock worth $8,871,746 in the last ninety days. 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.