Wilmington Savings Fund Society FSB Takes $119,000 Position in Pure Storage, Inc. (NYSE:PSTG)

Wilmington Savings Fund Society FSB purchased a new position in Pure Storage, Inc. (NYSE:PSTG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,367 shares of the technology company’s stock, valued at approximately $119,000.

Other hedge funds also recently bought and sold shares of the company. Nvwm LLC increased its position in shares of Pure Storage by 23.3% in the third quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after buying an additional 194 shares in the last quarter. Harbour Investments Inc. increased its holdings in Pure Storage by 3.0% in the 2nd quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock worth $444,000 after acquiring an additional 202 shares in the last quarter. Larson Financial Group LLC raised its position 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 during the period. Venturi Wealth Management LLC raised its position in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after acquiring an additional 219 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its holdings in Pure Storage by 3.2% during the second quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company’s stock valued at $462,000 after purchasing an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PSTG shares. Barclays upped their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Stifel Nicolaus increased their target price on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Needham & Company LLC raised their target price on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group boosted their price target on Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley raised their price objective on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.70.

Pure Storage Price Performance

PSTG stock opened at $62.34 on Friday. Pure Storage, Inc. has a 52-week low of $34.32 and a 52-week high of $70.41. The business has a fifty day moving average of $55.24 and a two-hundred day moving average of $56.98. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 164.06, a price-to-earnings-growth ratio of 7.69 and a beta of 1.13. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07.

Insider Buying and Selling

In related news, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the sale, the chief accounting officer now owns 67,681 shares in the company, valued at approximately $4,207,050.96. This trade represents a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $51.01, for a total value of $5,101,000.00. Following the transaction, the insider now owns 400,000 shares in the company, valued at $20,404,000. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 362,853 shares of company stock valued at $20,676,642. 6.00% of the stock is currently owned by insiders.

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.