Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lifted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 119.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,676 shares of the technology company’s stock after purchasing an additional 37,946 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Pure Storage were worth $4,280,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PSTG. Sugar Maple Asset Management LLC acquired a new stake in Pure Storage in the 4th quarter valued at about $29,000. Compass Financial Services Inc acquired a new stake in Pure Storage in the fourth quarter valued at approximately $29,000. Berbice Capital Management LLC purchased a new position in Pure Storage in the fourth quarter worth approximately $37,000. Larson Financial Group LLC grew its holdings in Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after acquiring an additional 212 shares in the last quarter. Finally, Financial Life Planners purchased a new stake in shares of Pure Storage in the 4th quarter valued at approximately $44,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the transaction, the executive now directly owns 72,927 shares of the company’s stock, valued at approximately $4,675,349.97. This represents a 10.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction that occurred on 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 disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Trading Up 0.6 %

Pure Storage stock opened at $51.11 on Friday. The stock has a 50 day moving average of $61.53 and a two-hundred day moving average of $57.24. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 134.51, a PEG ratio of 5.12 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their price objective on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. TD Cowen boosted their target price on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, UBS Group increased their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

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.