Emerald Advisers LLC Has $587,000 Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Emerald Advisers LLC lifted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 61.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,558 shares of the technology company’s stock after buying an additional 3,623 shares during the quarter. Emerald Advisers LLC’s holdings in Pure Storage were worth $587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC increased its position in Pure Storage by 1,725.3% in the 4th quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company’s stock valued at $155,124,000 after acquiring an additional 2,386,864 shares during the period. Franklin Resources Inc. grew its stake in shares of Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after purchasing an additional 1,730,123 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Pure Storage in the fourth quarter valued at $70,971,000. American Century Companies Inc. raised its position in Pure Storage by 262.4% during the 4th quarter. American Century Companies Inc. now owns 893,410 shares of the technology company’s stock worth $54,882,000 after purchasing an additional 646,875 shares during the last quarter. Finally, State Street Corp lifted its holdings in Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after buying an additional 626,427 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Buying and Selling

In other news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares in the company, valued at $4,675,349.97. This represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.

Pure Storage Trading Up 0.6 %

Pure Storage stock opened at $51.11 on Monday. The firm has a market capitalization of $16.67 billion, a price-to-earnings ratio of 134.51, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The firm’s fifty day moving average price is $61.53 and its two-hundred day moving average price is $57.38. Pure Storage, Inc. has a 1-year low of $44.76 and a 1-year high of $73.67.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PSTG shares. JPMorgan Chase & Co. increased their price target on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. StockNews.com downgraded shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Stifel Nicolaus upped their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Lake Street Capital lifted their target price on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

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.