Sanctuary Advisors LLC Boosts Holdings in Pure Storage, Inc. (NYSE:PSTG)

Sanctuary Advisors LLC increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 15.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,709 shares of the technology company’s stock after purchasing an additional 2,317 shares during the quarter. Sanctuary Advisors LLC’s holdings in Pure Storage were worth $915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in Pure Storage by 27.2% during the second quarter. Fifth Third Bancorp now owns 4,758 shares of the technology company’s stock valued at $306,000 after buying an additional 1,017 shares during the last quarter. Calamos Advisors LLC boosted its position in shares of Pure Storage by 62.9% during the 2nd quarter. Calamos Advisors LLC now owns 56,075 shares of the technology company’s stock valued at $3,601,000 after acquiring an additional 21,647 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Pure Storage by 56.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock valued at $237,345,000 after purchasing an additional 1,327,873 shares during the last quarter. State of Michigan Retirement System grew its holdings in Pure Storage by 1.0% during the 2nd quarter. State of Michigan Retirement System now owns 73,600 shares of the technology company’s stock valued at $4,726,000 after purchasing an additional 700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Pure Storage by 71.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,359 shares of the technology company’s stock worth $87,000 after purchasing an additional 568 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $51.01, for a total transaction of $5,101,000.00. Following the transaction, the insider now owns 400,000 shares of the company’s stock, valued at approximately $20,404,000. This trade represents a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mona Chu sold 20,647 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $51.50, for a total value of $1,063,320.50. Following the completion of the sale, the chief accounting officer now directly owns 75,992 shares of the company’s stock, valued at $3,913,588. The trade was a 21.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 353,958 shares of company stock valued at $20,225,932. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Price Performance

Pure Storage stock opened at $64.40 on Monday. 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 simple moving average of $55.46 and a 200-day simple moving average of $56.95. The stock has a market cap of $21.10 billion, a P/E ratio of 169.48, a price-to-earnings-growth ratio of 7.69 and a beta of 1.13. Pure Storage, Inc. has a 12-month low of $34.32 and a 12-month high of $70.41.

Analyst Ratings Changes

A number of analysts have weighed in on PSTG shares. Citigroup upped their target price on Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC lifted their price target on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Stifel Nicolaus increased their target price on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Evercore ISI raised their price objective on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Susquehanna reissued a “positive” rating and issued a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. One 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 stock. Based on data from MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and an average target price of $72.70.

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.