Harbour Investments Inc. Grows Stake in Pure Storage, Inc. (NYSE:PSTG)

Harbour Investments Inc. grew its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,141 shares of the technology company’s stock after buying an additional 266 shares during the period. Harbour Investments Inc.’s holdings in Pure Storage were worth $439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sugar Maple Asset Management LLC bought a new stake in Pure Storage in the fourth quarter valued at $29,000. Compass Financial Services Inc bought a new stake in shares of Pure Storage during the 4th quarter valued at about $29,000. Larson Financial Group LLC increased its position in shares of Pure Storage by 49.1% during the third 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 bought a new position in Pure Storage in the fourth quarter worth about $37,000. Finally, Financial Life Planners purchased a new stake in Pure Storage in the fourth quarter worth about $44,000. Institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

PSTG has been the subject of several research reports. Evercore ISI increased their target price on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Stifel Nicolaus increased their price objective 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 restated a “buy” rating and set a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. Barclays increased their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Finally, Bank of America dropped their price objective on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Stock Performance

NYSE PSTG opened at $50.81 on Friday. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67. The stock has a 50-day moving average of $61.80 and a 200 day moving average of $57.25. The company has a market capitalization of $16.58 billion, a price-to-earnings ratio of 133.71, a PEG ratio of 5.12 and a beta of 1.09.

Insider Transactions at Pure Storage

In other news, CRO Dan Fitzsimons sold 8,895 shares of the 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 directly owns 72,927 shares of the company’s stock, valued at $4,675,349.97. This represents a 10.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ajay Singh sold 19,972 shares of Pure Storage 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 completion of the sale, the insider now directly owns 262,144 shares of the company’s stock, 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. Company insiders own 6.00% of the company’s stock.

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.