Cetera Investment Advisers Acquires 6,909 Shares of Pure Storage, Inc. (NYSE:PSTG)

Cetera Investment Advisers boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,268 shares of the technology company’s stock after purchasing an additional 6,909 shares during the period. Cetera Investment Advisers’ holdings in Pure Storage were worth $4,501,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. World Investment Advisors lifted its stake in Pure Storage by 1.6% in the fourth quarter. World Investment Advisors now owns 9,635 shares of the technology company’s stock worth $592,000 after purchasing an additional 150 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in Pure Storage by 2.7% in the fourth quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company’s stock worth $355,000 after purchasing an additional 150 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in Pure Storage by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company’s stock worth $396,000 after purchasing an additional 157 shares during the last quarter. Parallel Advisors LLC lifted its stake in Pure Storage by 1.4% in the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock worth $815,000 after purchasing an additional 186 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. lifted its stake in Pure Storage by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock worth $4,130,000 after purchasing an additional 189 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the completion of the transaction, the insider now owns 801,959 shares of the company’s stock, valued at approximately $41,709,887.59. This trade represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Dan Fitzsimons sold 6,977 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the transaction, the executive now directly owns 90,223 shares of the company’s stock, valued at $3,691,022.93. This represents a 7.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,849 shares of company stock valued at $5,531,346. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PSTG. Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. Evercore ISI lowered their price objective on shares of Pure Storage from $75.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. StockNews.com downgraded shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Piper Sandler lowered their price objective on shares of Pure Storage from $76.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Bank of America lowered their price objective on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $70.20.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $56.26 on Thursday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67. The company’s 50-day moving average is $46.18 and its 200 day moving average is $55.66. The stock has a market capitalization of $18.34 billion, a P/E ratio of 148.06, a P/E/G ratio of 5.12 and a beta of 1.05.

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.