OV Management LLC Boosts Stock Position in Pure Storage, Inc. (NYSE:PSTG)

OV Management LLC lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,772 shares of the technology company’s stock after buying an additional 752 shares during the period. Pure Storage comprises about 2.6% of OV Management LLC’s holdings, making the stock its 8th largest position. OV Management LLC’s holdings in Pure Storage were worth $5,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Sugar Maple Asset Management LLC purchased a new position in Pure Storage during the 4th quarter worth $29,000. Compass Financial Services Inc purchased a new position in Pure Storage during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. purchased a new position in Pure Storage during the fourth quarter worth about $31,000. Berbice Capital Management LLC bought a new stake in Pure Storage in the 4th quarter worth about $37,000. Finally, Financial Life Planners purchased a new stake in Pure Storage in the 4th quarter valued at about $44,000. Institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. 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. Stifel Nicolaus boosted their price objective on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and raised their target price for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. Evercore ISI boosted their price target on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Bank of America reduced their price target on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have assigned 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 Stock Down 3.9 %

PSTG stock opened at $44.22 on Tuesday. Pure Storage, Inc. has a twelve month low of $43.43 and a twelve month high of $73.67. The firm has a market capitalization of $14.43 billion, a PE ratio of 116.38, a PEG ratio of 5.12 and a beta of 1.09. The stock has a 50-day simple moving average of $59.65 and a two-hundred day simple moving average of $57.47.

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.