Arcadia Investment Management Corp MI Has $3.33 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Arcadia Investment Management Corp MI lifted its stake in Pure Storage, Inc. (NYSE:PSTG) by 18.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,280 shares of the technology company’s stock after purchasing an additional 8,540 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Pure Storage were worth $3,334,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new position in shares of Pure Storage in the 4th quarter valued at about $29,000. Compass Financial Services Inc purchased a new position in Pure Storage during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC increased its stake in 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 buying an additional 212 shares during the period. Berbice Capital Management LLC acquired a new position in Pure Storage in the 4th quarter valued at approximately $37,000. Finally, Venturi Wealth Management LLC lifted its position in Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after buying an additional 219 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Price Performance

PSTG stock opened at $67.88 on Friday. Pure Storage, Inc. has a 52-week low of $38.78 and a 52-week high of $73.67. The company has a 50-day moving average of $66.10 and a two-hundred day moving average of $57.94. The stock has a market capitalization of $22.15 billion, a price-to-earnings ratio of 178.64, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Insider Buying and Selling at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the sale, the chief accounting officer now owns 67,681 shares of the company’s stock, 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. Insiders sold 137,178 shares of company stock worth $8,871,746 over the last ninety days. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PSTG shares. JPMorgan Chase & Co. boosted their price target on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. William Blair restated an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Barclays lifted their price target on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Lake Street Capital increased their price objective on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, UBS Group lifted their target price on shares of Pure Storage from $45.00 to $47.00 and gave the company a “sell” 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.