Concurrent Investment Advisors LLC Trims Holdings in Pure Storage, Inc. (NYSE:PSTG)

Concurrent Investment Advisors LLC decreased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,965 shares of the technology company’s stock after selling 190 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Pure Storage were worth $428,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new position in Pure Storage during the fourth quarter worth approximately $29,000. Compass Financial Services Inc purchased a new position in Pure Storage during the fourth quarter worth approximately $29,000. Larson Financial Group LLC lifted 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 buying an additional 212 shares in the last quarter. Berbice Capital Management LLC purchased a new position in Pure Storage during the fourth quarter worth approximately $37,000. Finally, Venturi Wealth Management LLC lifted 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 buying an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Mona Chu sold 8,311 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the transaction, the chief accounting officer now owns 67,681 shares in the company, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 137,178 shares of company stock worth $8,871,746 in the last quarter. 6.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays lifted their target price on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. Stifel Nicolaus lifted their target price on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their target price on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.95.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $63.89 on Tuesday. The stock’s 50-day moving average is $66.18 and its two-hundred day moving average is $58.22. Pure Storage, Inc. has a 1-year low of $40.79 and a 1-year high of $73.67. The company has a market cap of $20.84 billion, a price-to-earnings ratio of 168.12, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Pure Storage Company 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.