Oppenheimer Asset Management Inc. Makes New Investment in Pure Storage, Inc. (NYSE:PSTG)

Oppenheimer Asset Management Inc. acquired a new stake in Pure Storage, Inc. (NYSE:PSTG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 33,342 shares of the technology company’s stock, valued at approximately $2,141,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Banque Cantonale Vaudoise acquired a new stake in Pure Storage during the 1st quarter valued at $25,000. Fidelis Capital Partners LLC bought a new position in shares of Pure Storage in the first quarter valued at about $27,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after buying an additional 161 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after buying an additional 306 shares during the period. Finally, Principal Securities Inc. acquired a new position in Pure Storage in the 4th quarter valued at about $31,000. 83.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSTG has been the subject of several research reports. KeyCorp raised their price objective on shares of Pure Storage from $64.00 to $79.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Piper Sandler reduced their price target on Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Guggenheim reiterated a “buy” rating and set a $72.00 price objective on shares of Pure Storage in a research report on Tuesday, June 25th. Evercore ISI reduced their target price on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, Susquehanna reaffirmed a “positive” rating and set a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $66.95.

Insider Buying and Selling at Pure Storage

In other news, CFO P. Kevan Krysler sold 14,296 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.79, for a total value of $911,941.84. Following the completion of the transaction, the chief financial officer now directly owns 518,623 shares in the company, valued at approximately $33,082,961.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $63.79, for a total value of $911,941.84. Following the completion of the transaction, the chief financial officer now owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the completion of the transaction, the insider now owns 900,000 shares of the company’s stock, valued at approximately $53,550,000. The disclosure for this sale can be found here. Insiders have sold 324,177 shares of company stock worth $18,863,083 over the last quarter. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Trading Up 0.4 %

Shares of Pure Storage stock opened at $49.80 on Wednesday. The firm has a market capitalization of $16.20 billion, a PE ratio of 177.86, a price-to-earnings-growth ratio of 7.49 and a beta of 1.11. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $56.62 and its 200 day moving average is $57.15. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41.

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.