Proficio Capital Partners LLC Buys Shares of 83,115 Pure Storage, Inc. (NYSE:PSTG)

Proficio Capital Partners LLC bought a new stake in Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 83,115 shares of the technology company’s stock, valued at approximately $5,106,000.

Other hedge funds have also recently bought and sold shares of the company. Citigroup Inc. grew its holdings in shares of Pure Storage by 11.3% during the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after purchasing an additional 14,659 shares during the last quarter. TT International Asset Management LTD grew its holdings in shares of Pure Storage by 1,160.1% during the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock valued at $3,671,000 after purchasing an additional 67,285 shares during the last quarter. FMR LLC grew its holdings in shares of Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares during the last quarter. Sycomore Asset Management grew its holdings in shares of Pure Storage by 57.8% during the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock valued at $11,541,000 after purchasing an additional 68,840 shares during the last quarter. Finally, Asio Capital LLC bought a new stake in shares of Pure Storage during the 4th quarter valued at approximately $264,000. 83.42% of the stock is owned by institutional investors.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares in the company, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the sale, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Pure Storage Stock Up 5.0 %

Pure Storage stock opened at $50.99 on Monday. Pure Storage, Inc. has a 12-month low of $44.76 and a 12-month high of $73.67. The firm’s fifty day moving average is $62.86 and its 200 day moving average is $57.34. The company has a market capitalization of $16.63 billion, a PE ratio of 134.17, a PEG ratio of 5.12 and a beta of 1.09.

Analyst Ratings Changes

PSTG has been the topic of several recent 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. TD Cowen lifted their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays lifted their target price on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. Finally, Citigroup cut their target price on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.20.

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.