Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,206 shares of the technology company’s stock after buying an additional 495 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Pure Storage were worth $627,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PSTG. World Investment Advisors raised its holdings in shares of Pure Storage by 1.6% in the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company’s stock worth $592,000 after purchasing an additional 150 shares during the period. Peapack Gladstone Financial Corp raised its holdings in shares of Pure Storage by 2.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company’s stock worth $355,000 after purchasing an additional 150 shares during the period. HighPoint Advisor Group LLC raised its holdings in shares of Pure Storage by 2.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company’s stock worth $396,000 after purchasing an additional 157 shares during the period. Parallel Advisors LLC raised its holdings in shares of Pure Storage by 1.4% during the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock valued at $815,000 after buying an additional 186 shares during the period. Finally, Cherry Creek Investment Advisors Inc. raised its holdings in shares of Pure Storage by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock valued at $4,130,000 after buying an additional 189 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group raised their target price on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a report on Thursday, February 27th. Piper Sandler dropped their target price on Pure Storage from $76.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Citigroup dropped their target price on Pure Storage from $77.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Needham & Company LLC reiterated a “buy” rating and set a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. Finally, Evercore ISI dropped their target price on Pure Storage from $75.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.20.

Pure Storage Stock Up 2.1%

PSTG stock opened at $56.26 on Thursday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67. The stock’s 50 day moving average is $46.18 and its two-hundred day moving average is $55.66. The company has a market capitalization of $18.34 billion, a PE ratio of 148.06, a P/E/G ratio of 5.12 and a beta of 1.05.

Insider Transactions at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $40.91, for a total value of $285,429.07. Following the completion of the transaction, the executive now owns 90,223 shares in the company, valued at approximately $3,691,022.93. This trade represents a 7.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $52.01, for a total value of $5,201,000.00. Following the completion of the transaction, the insider now owns 801,959 shares of the company’s stock, valued at approximately $41,709,887.59. The trade was a 11.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,849 shares of company stock worth $5,531,346. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Company 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.