GAMMA Investing LLC Buys 1,132 Shares of Pure Storage, Inc. (NYSE:PSTG)

GAMMA Investing LLC lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 54.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,210 shares of the technology company’s stock after buying an additional 1,132 shares during the period. GAMMA Investing LLC’s holdings in Pure Storage were worth $197,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new position in shares of Pure Storage during the 3rd quarter worth approximately $31,000. Larson Financial Group LLC boosted its position 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 purchasing an additional 212 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after purchasing an additional 219 shares during the period. Covestor Ltd grew its stake in Pure Storage by 175.3% in the third quarter. Covestor Ltd now owns 991 shares of the technology company’s stock worth $50,000 after purchasing an additional 631 shares during the period. Finally, nVerses Capital LLC purchased a new position in Pure Storage during the third quarter valued at $50,000. 83.42% of the stock is owned by institutional investors.

Pure Storage Stock Performance

NYSE:PSTG opened at $64.12 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77. The stock has a 50-day simple moving average of $57.85 and a two-hundred day simple moving average of $56.73. The firm has a market capitalization of $20.92 billion, a PE ratio of 168.74, a P/E/G ratio of 7.69 and a beta of 1.09. Pure Storage, Inc. has a 52-week low of $35.35 and a 52-week high of $70.41.

Insider Activity at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the transaction, the insider now owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mona Chu sold 8,311 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the sale, the chief accounting officer now owns 67,681 shares of the company’s stock, valued at $4,207,050.96. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 237,178 shares of company stock worth $14,603,746. 6.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PSTG. Northland Securities reaffirmed a “market perform” rating and issued a $63.00 target price (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Citigroup raised their target price on shares of Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Needham & Company LLC lifted their target price on shares of Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley upped their price target on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, TD Cowen lifted their price objective on Pure Storage from $70.00 to $80.00 and gave the company 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 issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and an average price target of $72.70.

About Pure Storage

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.