Hantz Financial Services Inc. Lowers Stake in Pure Storage, Inc. (NYSE:PSTG)

Hantz Financial Services Inc. decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.8% during the fourth quarter, HoldingsChannel reports. The firm owned 186,146 shares of the technology company’s stock after selling 3,400 shares during the period. Hantz Financial Services Inc.’s holdings in Pure Storage were worth $11,435,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new position in shares of Pure Storage during the 4th quarter valued at about $29,000. Berbice Capital Management LLC bought a new position in Pure Storage during the fourth quarter valued at approximately $37,000. ORG Wealth Partners LLC purchased a new position in shares of Pure Storage during the third quarter worth approximately $31,000. Larson Financial Group LLC boosted its stake in shares of Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several recent research reports. UBS Group boosted their price target on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Barclays boosted their target price on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Guggenheim boosted their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Northland Securities reiterated a “market perform” rating and set a $63.00 price target (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Finally, Morgan Stanley raised their price objective on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Pure Storage Price Performance

PSTG stock opened at $66.91 on Wednesday. The stock has a market capitalization of $21.83 billion, a P/E ratio of 176.09, a P/E/G ratio of 8.72 and a beta of 1.09. Pure Storage, Inc. has a 1-year low of $38.78 and a 1-year high of $73.67. The business has a fifty day moving average price of $62.34 and a 200-day moving average price of $56.92.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the transaction, the insider now owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mona Chu sold 8,311 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock valued at $8,871,746 over the last three months. 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.