Stanley Laman Group Ltd. Has $4.30 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Stanley Laman Group Ltd. lessened its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 10.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 69,921 shares of the technology company’s stock after selling 7,791 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Pure Storage were worth $4,295,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Sugar Maple Asset Management LLC bought a new position in Pure Storage in the 4th quarter valued at $29,000. Compass Financial Services Inc acquired a new stake in shares of Pure Storage in the 4th quarter valued at $29,000. Berbice Capital Management LLC acquired a new stake in shares of Pure Storage during the fourth quarter worth $37,000. ORG Wealth Partners LLC acquired a new stake in shares of Pure Storage during the third quarter worth $31,000. Finally, Larson Financial Group LLC grew its stake in shares of Pure Storage by 49.1% during the third 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. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PSTG shares. Stifel Nicolaus boosted their target price on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their target price on Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. Finally, TD Cowen raised their price objective on 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated 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 transaction, the executive now directly owns 72,927 shares of the company’s stock, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,178 shares of company stock valued at $8,871,746. 6.00% of the stock is owned by insiders.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $67.28 on Thursday. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 177.06, a PEG ratio of 5.26 and a beta of 1.09. Pure Storage, Inc. has a one year low of $38.78 and a one year high of $73.67. The business has a 50-day simple moving average of $65.53 and a 200 day simple moving average of $57.49.

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.