Wealth Enhancement Advisory Services LLC Buys 1,395 Shares of Pure Storage, Inc. (NYSE:PSTG)

Wealth Enhancement Advisory Services LLC boosted its position in Pure Storage, Inc. (NYSE:PSTG) by 11.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,500 shares of the technology company’s stock after purchasing an additional 1,395 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Pure Storage were worth $829,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSTG. Nvwm LLC grew its position in Pure Storage by 23.3% in the third quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after purchasing an additional 194 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Pure Storage by 49.1% in the 3rd 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 increased its position in shares of Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after acquiring an additional 219 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Pure Storage by 3.6% during the third quarter. Bank Pictet & Cie Europe AG now owns 7,461 shares of the technology company’s stock worth $375,000 after acquiring an additional 259 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in Pure Storage by 26.0% during the third quarter. UMB Bank n.a. now owns 1,485 shares of the technology company’s stock valued at $75,000 after purchasing an additional 306 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSTG has been the topic of several recent analyst reports. UBS Group boosted their price target on Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Lake Street Capital increased their price target on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Evercore ISI boosted their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC upped 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.70.

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $64.82 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74. The firm has a market cap of $21.15 billion, a price-to-earnings ratio of 170.58, a P/E/G ratio of 7.69 and a beta of 1.09. The stock’s fifty day moving average price is $58.91 and its two-hundred day moving average price is $56.69. Pure Storage, Inc. has a one year low of $35.35 and a one year high of $70.41.

Insider Activity

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the sale, the insider now owns 300,000 shares in the company, valued at $17,196,000. The trade was a 25.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the transaction, the chief accounting officer now owns 67,681 shares in the company, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 237,178 shares of company stock valued at $14,603,746. 6.00% of the stock is owned by company insiders.

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.