Moody National Bank Trust Division Takes $285,000 Position in Pure Storage, Inc. (NYSE:PSTG)

Moody National Bank Trust Division acquired a new stake in Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,645 shares of the technology company’s stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage in the 3rd quarter valued at approximately $31,000. Larson Financial Group LLC grew its holdings in shares of Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after purchasing an additional 212 shares during the period. Venturi Wealth Management LLC increased its position in shares of Pure Storage by 40.9% during 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 last quarter. Covestor Ltd raised its holdings in Pure Storage by 175.3% in the 3rd quarter. Covestor Ltd now owns 991 shares of the technology company’s stock valued at $50,000 after buying an additional 631 shares during the period. Finally, nVerses Capital LLC acquired a new position in Pure Storage in the third quarter valued at about $50,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Performance

Shares of PSTG opened at $63.30 on Wednesday. The company’s 50 day simple moving average is $58.91 and its 200-day simple moving average is $56.69. The firm has a market cap of $20.65 billion, a PE ratio of 166.58, a price-to-earnings-growth ratio of 7.69 and a beta of 1.09. Pure Storage, Inc. has a 12-month low of $35.35 and a 12-month high of $70.41. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07.

Insider Buying and Selling

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction that occurred 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 sale, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 237,178 shares of company stock worth $14,603,746 in the last 90 days. Company insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their price target 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. UBS Group upped their price target on Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Northland Securities reiterated a “market perform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, TD Cowen boosted 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. One equities 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. According to data from MarketBeat.com, the stock currently has an average 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.