Jones Financial Companies Lllp Grows Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Jones Financial Companies Lllp increased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 27.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,676 shares of the technology company’s stock after buying an additional 366 shares during the quarter. Jones Financial Companies Lllp’s holdings in Pure Storage were worth $103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PSTG. Sugar Maple Asset Management LLC purchased a new position in shares of Pure Storage during the fourth quarter worth about $29,000. Compass Financial Services Inc purchased a new position in shares of Pure Storage during the fourth quarter worth about $29,000. Larson Financial Group LLC boosted its holdings in 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 purchasing an additional 212 shares in the last quarter. Berbice Capital Management LLC purchased a new stake in Pure Storage in the 4th quarter valued at approximately $37,000. Finally, Financial Life Planners purchased a new stake in Pure Storage in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Piper Sandler raised 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 report on Wednesday, December 4th. Citigroup lowered their price objective on Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus lifted their price objective on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Barclays lifted their price objective on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Pure Storage has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $50.99 on Monday. Pure Storage, Inc. has a 1 year low of $44.76 and a 1 year high of $73.67. The company has a market capitalization of $16.63 billion, a P/E ratio of 134.17, a P/E/G ratio of 5.12 and a beta of 1.09. The business has a 50 day moving average price of $62.86 and a 200 day moving average price of $57.34.

Insider Buying and Selling

In other Pure Storage 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 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ajay Singh sold 19,972 shares of the 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 approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Pure Storage 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.