Moody National Bank Trust Division Makes New $285,000 Investment in Pure Storage, Inc. (NYSE:PSTG)

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

A number of other institutional investors have also recently made changes to their positions in the business. ORG Wealth Partners LLC acquired a new position in Pure Storage during the 3rd quarter valued at about $31,000. Larson Financial Group LLC increased 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 valued at $32,000 after acquiring an additional 212 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after purchasing an additional 219 shares during the last quarter. nVerses Capital LLC acquired a new stake in Pure Storage in the 3rd quarter worth approximately $50,000. Finally, Covestor Ltd grew its position in Pure Storage by 175.3% during the 3rd 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. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the completion of the sale, the insider now owns 300,000 shares of the company’s stock, valued at approximately $17,196,000. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 237,178 shares of company stock valued at $14,603,746. 6.00% of the stock is owned by corporate insiders.

Pure Storage Stock Performance

PSTG opened at $63.30 on Wednesday. The firm’s fifty day simple moving average is $58.91 and its two-hundred day simple moving average is $56.69. Pure Storage, Inc. has a 52-week low of $35.35 and a 52-week high of $70.41. The company has a market cap of $20.65 billion, a price-to-earnings ratio of 166.58, a PEG ratio of 7.69 and a beta of 1.09. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. William Blair reiterated an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Oppenheimer started coverage on Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. Needham & Company LLC raised their price objective on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. UBS Group upped their target price on Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

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.