Harbor Capital Advisors Inc. Buys 965 Shares of Pure Storage, Inc. (NYSE:PSTG)

Harbor Capital Advisors Inc. increased its stake in Pure Storage, Inc. (NYSE:PSTG) by 34.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,790 shares of the technology company’s stock after acquiring an additional 965 shares during the period. Harbor Capital Advisors Inc.’s holdings in Pure Storage were worth $233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PSTG. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage in the third quarter valued at $31,000. Larson Financial Group LLC grew its holdings in Pure Storage by 49.1% during 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 during the last quarter. Venturi Wealth Management LLC raised its position in Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after purchasing an additional 219 shares during the period. nVerses Capital LLC purchased a new stake in Pure Storage in the 3rd quarter worth about $50,000. Finally, Covestor Ltd lifted its stake in Pure Storage by 175.3% in the third quarter. Covestor Ltd now owns 991 shares of the technology company’s stock worth $50,000 after purchasing an additional 631 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on PSTG. Guggenheim upped their target price on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC increased their target price on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Evercore ISI boosted their target price on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. TD Cowen raised their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Insider Activity

In related news, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the transaction, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. The trade was a 10.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the sale, the insider now owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 237,178 shares of company stock worth $14,603,746. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

Shares of PSTG stock opened at $63.30 on Wednesday. The company has a market cap of $20.65 billion, a P/E ratio of 166.58, a PEG ratio of 7.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74. The stock’s 50-day moving average is $58.91 and its 200 day moving average is $56.69. Pure Storage, Inc. has a 1-year low of $35.35 and a 1-year high of $70.41.

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.