Crowley Wealth Management Inc. Buys New Position in Pure Storage, Inc. (NYSE:PSTG)

Crowley Wealth Management Inc. bought a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 500 shares of the technology company’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PSTG. Sugar Maple Asset Management LLC purchased a new position in shares of Pure Storage in the 4th quarter valued at about $29,000. Compass Financial Services Inc purchased a new position in shares of Pure Storage in the 4th quarter valued at about $29,000. 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 buying an additional 212 shares during the period. Berbice Capital Management LLC purchased a new position in shares of Pure Storage in the 4th quarter valued at about $37,000. Finally, Financial Life Planners purchased a new position in shares of Pure Storage in the 4th quarter valued at about $44,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the transaction, the executive now owns 72,927 shares of the company’s stock, valued at $4,675,349.97. This represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ajay Singh sold 19,972 shares of the company’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 transaction, the insider now directly owns 262,144 shares in the company, valued at $16,142,827.52. This represents 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.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America decreased their price objective on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. TD Cowen boosted their target price on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Barclays boosted their target price on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Trading Up 0.6 %

NYSE:PSTG opened at $51.11 on Monday. The firm has a market cap of $16.67 billion, a P/E ratio of 134.51, a PEG ratio of 5.12 and a beta of 1.09. The stock’s 50 day simple moving average is $61.53 and its 200-day simple moving average is $57.38. Pure Storage, Inc. has a 12-month low of $44.76 and a 12-month high of $73.67.

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.