New Age Alpha Advisors LLC Buys Shares of 67,468 Pure Storage, Inc. (NYSE:PSTG)

New Age Alpha Advisors LLC purchased a new position in shares of 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 firm purchased 67,468 shares of the technology company’s stock, valued at approximately $4,145,000.

Several other institutional investors have also recently added to or reduced their stakes in PSTG. Sugar Maple Asset Management LLC bought a new stake in Pure Storage in the fourth quarter valued at about $29,000. Compass Financial Services Inc bought a new position in Pure Storage during the fourth quarter worth $29,000. Crowley Wealth Management Inc. acquired a new position in Pure Storage in the fourth quarter worth $31,000. Berbice Capital Management LLC bought a new stake in Pure Storage during the fourth quarter valued at $37,000. Finally, Larson Financial Group LLC raised its holdings 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. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on PSTG. StockNews.com lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Evercore ISI upped their target price on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Citigroup cut their price target on Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. upped their price objective on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $73.20.

Pure Storage Stock Down 5.0 %

Shares of Pure Storage stock opened at $46.00 on Friday. The business has a fifty day simple moving average of $60.09 and a 200-day simple moving average of $57.36. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67. The firm has a market cap of $15.01 billion, a price-to-earnings ratio of 121.04, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction 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 transaction, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.00% of the stock is owned by corporate insiders.

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.