By otakuyassine3@gmail.com 
180 Wealth Advisors LLC trimmed its holdings in Pure Storage, Inc. (NYSE:PSTG – Free Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,535 shares of the technology company’s stock after selling 1,138 shares during the period. 180 Wealth Advisors LLC’s holdings in Pure Storage were worth $3,964,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in PSTG. Choreo LLC purchased a new position in Pure Storage during the second quarter worth $203,000. American Century Companies Inc. raised its stake in Pure Storage by 119.3% in the 2nd quarter. American Century Companies Inc. now owns 164,050 shares of the technology company’s stock valued at $10,534,000 after purchasing an additional 89,255 shares during the last quarter. Forsta AP Fonden acquired a new position in Pure Storage in the 2nd quarter valued at about $3,731,000. DekaBank Deutsche Girozentrale lifted its holdings in Pure Storage by 534.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 47,692 shares of the technology company’s stock valued at $3,144,000 after purchasing an additional 40,170 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Pure Storage by 265.3% during the 2nd quarter. Federated Hermes Inc. now owns 156,431 shares of the technology company’s stock worth $10,044,000 after purchasing an additional 113,603 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.
Pure Storage Stock Down 3.2 %
Shares of Pure Storage stock opened at $62.65 on Tuesday. Pure Storage, Inc. has a twelve month low of $35.35 and a twelve month high of $70.41. The stock has a market cap of $20.44 billion, a price-to-earnings ratio of 164.87, a price-to-earnings-growth ratio of 7.69 and a beta of 1.09. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $58.67 and a 200 day moving average price of $56.70.
Insider Activity
In other news, CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 237,178 shares of company stock worth $14,603,746. 6.00% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the stock. Guggenheim boosted their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Morgan Stanley increased their price target 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. Lake Street Capital lifted their price objective on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Northland Securities reiterated a “market perform” rating and issued a $63.00 target price (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Finally, Evercore ISI raised their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.70.
Read Our Latest Stock Report on Pure Storage
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.
Further Reading
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