9,020 Shares in Pure Storage, Inc. (NYSE:PSTG) Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. bought a new stake in Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,020 shares of the technology company’s stock, valued at approximately $554,000.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Pure Storage by 54.5% in the 4th quarter. GAMMA Investing LLC now owns 3,210 shares of the technology company’s stock worth $197,000 after acquiring an additional 1,132 shares during the period. Franklin Resources Inc. grew its holdings in Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock valued at $137,628,000 after purchasing an additional 1,730,123 shares during the last quarter. Tidal Investments LLC increased its position in shares of Pure Storage by 2.0% in the third quarter. Tidal Investments LLC now owns 69,711 shares of the technology company’s stock valued at $3,502,000 after buying an additional 1,343 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Pure Storage during the 3rd quarter worth $119,000. Finally, World Investment Advisors LLC purchased a new stake in shares of Pure Storage in the 3rd quarter worth about $477,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSTG has been the subject of a number of research reports. Evercore ISI lifted their target price on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Northland Securities restated a “market perform” rating and set a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Stifel Nicolaus increased their target price on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. TD Cowen boosted their price target on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Citigroup increased their price objective on Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and an average target price of $72.70.

Pure Storage Stock Up 2.8 %

Shares of NYSE:PSTG opened at $64.23 on Friday. Pure Storage, Inc. has a 1 year low of $35.35 and a 1 year high of $70.41. The stock has a 50-day simple moving average of $57.27 and a 200-day simple moving average of $56.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77. The stock has a market capitalization of $20.95 billion, a P/E ratio of 169.03, a PEG ratio of 7.69 and a beta of 1.09.

Insiders Place Their Bets

In other Pure Storage news, CAO Mona Chu sold 20,647 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $51.50, for a total value of $1,063,320.50. Following the transaction, the chief accounting officer now directly owns 75,992 shares of the company’s stock, valued at $3,913,588. This trade represents a 21.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the transaction, the insider now owns 300,000 shares in the company, valued at approximately $17,196,000. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,825 shares of company stock worth $15,667,066 over the last ninety days. 6.00% of the stock is owned by company insiders.

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.