IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $569,000 in Pure Storage, Inc. (NYSE:PSTG)

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, HoldingsChannel reports. The fund purchased 9,260 shares of the technology company’s stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sugar Maple Asset Management LLC purchased a new stake in Pure Storage in the 4th quarter valued at $29,000. Compass Financial Services Inc acquired a new position in shares of Pure Storage during the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Pure Storage in the fourth quarter valued at about $31,000. Berbice Capital Management LLC acquired a new stake in Pure Storage during the fourth quarter worth about $37,000. Finally, Larson Financial Group LLC raised 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 purchasing an additional 212 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSTG. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a research note on Thursday, February 27th. UBS Group raised their target price on Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Thursday, February 27th. StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company upped their target price on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Price Performance

PSTG stock opened at $46.00 on Friday. The business’s 50-day moving average is $60.09 and its two-hundred day moving average is $57.36. The firm has a market capitalization of $15.01 billion, a P/E ratio of 121.04, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 1 year low of $44.76 and a 1 year high of $73.67.

Insider Buying and Selling

In related news, 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 completion of the transaction, the insider now owns 262,144 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 6.00% of the company’s stock.

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.