Avalon Trust Co Takes $106,000 Position in Pure Storage, Inc. (NYSE:PSTG)

Avalon Trust Co bought a new stake in Pure Storage, Inc. (NYSE:PSTG) during the fourth quarter, HoldingsChannel reports. The fund bought 1,725 shares of the technology company’s stock, valued at approximately $106,000.

A number of other large investors have also recently bought and sold shares of PSTG. Sugar Maple Asset Management LLC purchased a new stake in Pure Storage in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new stake in Pure Storage in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC boosted its position in Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after buying an additional 212 shares during the last quarter. Berbice Capital Management LLC purchased a new stake in Pure Storage in the fourth quarter valued at approximately $37,000. Finally, Venturi Wealth Management LLC boosted its position in Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after buying an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now directly owns 72,927 shares of the company’s stock, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 of the company’s stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of recent research reports. StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. TD Cowen upped their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. Bank of America lowered their price objective on Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. upped their price objective on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Stock Performance

NYSE PSTG opened at $50.99 on Friday. The business has a fifty day moving average price of $62.86 and a 200 day moving average price of $57.36. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67. The company has a market cap of $16.63 billion, a P/E ratio of 134.17, a P/E/G ratio of 5.12 and a beta of 1.09.

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.