Peregrine Asset Advisers Inc. Acquires Shares of 41,307 Pure Storage, Inc. (NYSE:PSTG)

Peregrine Asset Advisers Inc. acquired a new position in Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,307 shares of the technology company’s stock, valued at approximately $2,537,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PSTG. Creative Planning grew its position in shares of Pure Storage by 39.7% in the 3rd quarter. Creative Planning now owns 27,399 shares of the technology company’s stock worth $1,377,000 after buying an additional 7,780 shares during the period. Blue Trust Inc. lifted its position in Pure Storage by 462.2% during the 3rd quarter. Blue Trust Inc. now owns 4,166 shares of the technology company’s stock valued at $209,000 after acquiring an additional 3,425 shares during the period. International Assets Investment Management LLC boosted its stake in Pure Storage by 2,507.0% during the third quarter. International Assets Investment Management LLC now owns 108,267 shares of the technology company’s stock worth $5,439,000 after acquiring an additional 104,114 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Pure Storage by 35.2% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 20,169 shares of the technology company’s stock worth $1,013,000 after purchasing an additional 5,252 shares during the period. Finally, Impact Partnership Wealth LLC bought a new position in shares of Pure Storage during the third quarter valued at approximately $365,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Price Performance

Pure Storage stock opened at $65.14 on Friday. The firm’s 50 day moving average price is $66.20 and its 200-day moving average price is $58.00. Pure Storage, Inc. has a 1 year low of $40.32 and a 1 year high of $73.67. The stock has a market cap of $21.25 billion, a P/E ratio of 171.43, a PEG ratio of 5.12 and a beta of 1.09.

Insider Buying and Selling at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction 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 sale, the executive now owns 72,927 shares in the company, valued at approximately $4,675,349.97. This represents a 10.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction 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 transaction, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,178 shares of company stock worth $8,871,746. Insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PSTG shares. Morgan Stanley upped their price target on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. William Blair reissued an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Lake Street Capital raised their price target on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup upped their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Barclays raised their price objective on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” 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. Based on data from MarketBeat, Pure Storage has an average rating of “Moderate Buy” and an average target price of $72.95.

Pure Storage 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.