Clearwater Capital Advisors LLC Invests $236,000 in Pure Storage, Inc. (NYSE:PSTG)

Clearwater Capital Advisors LLC purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,838 shares of the technology company’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSTG. FMR LLC boosted its holdings in Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after buying an additional 368,643 shares during the last quarter. State Street Corp boosted its stake in Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after acquiring an additional 626,427 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in Pure Storage by 3.2% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock valued at $285,575,000 after purchasing an additional 177,559 shares during the period. Geode Capital Management LLC increased its stake in Pure Storage by 4.3% in the third quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock valued at $269,798,000 after purchasing an additional 219,971 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after purchasing an additional 747,034 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of the business’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 in the company, valued at $4,675,349.97. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the 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 transaction, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PSTG. Evercore ISI upped their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stifel Nicolaus increased their price target on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and set a $75.00 price objective on shares of Pure Storage in a report on Thursday, February 27th. Morgan Stanley increased their target price on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Lake Street Capital upped their price target on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and a consensus price target of $73.20.

Pure Storage Stock Performance

Shares of PSTG opened at $50.99 on Monday. The firm has a market cap of $16.63 billion, a P/E ratio of 134.17, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 52 week low of $44.76 and a 52 week high of $73.67. The firm’s 50-day simple moving average is $62.86 and its 200 day simple moving average is $57.34.

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.