Kestra Investment Management LLC Buys Shares of 4,512 Pure Storage, Inc. (NYSE:PSTG)

Kestra Investment Management LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) in the third quarter, HoldingsChannel reports. The firm purchased 4,512 shares of the technology company’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Erste Asset Management GmbH acquired a new position in Pure Storage during the third quarter worth about $15,857,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Pure Storage by 27.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 182,327 shares of the technology company’s stock worth $9,160,000 after purchasing an additional 39,566 shares during the last quarter. Twenty Acre Capital LP lifted its stake in Pure Storage by 62.6% in the 3rd quarter. Twenty Acre Capital LP now owns 134,828 shares of the technology company’s stock valued at $6,774,000 after buying an additional 51,928 shares in the last quarter. Eventide Asset Management LLC acquired a new stake in Pure Storage during the 3rd quarter valued at $1,974,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Pure Storage by 3.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,861,621 shares of the technology company’s stock worth $143,768,000 after buying an additional 93,106 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Trading Up 0.1 %

Shares of PSTG opened at $53.05 on Tuesday. Pure Storage, Inc. has a one year low of $31.79 and a one year high of $70.41. The stock has a 50-day moving average price of $52.12 and a 200 day moving average price of $56.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The company has a market capitalization of $17.38 billion, a P/E ratio of 132.63, a P/E/G ratio of 7.19 and a beta of 1.13.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PSTG. Needham & Company LLC reduced their price objective on Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Oppenheimer initiated coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. Northland Securities reissued a “market perform” rating and issued a $59.00 price objective (down previously from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. UBS Group decreased their target price on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Finally, Evercore ISI cut their price target on Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.95.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 300,000 shares of the company’s stock, valued at $17,196,000. This represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total transaction of $450,709.65. Following the transaction, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. This trade represents a 8.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 354,542 shares of company stock worth $18,599,030. 6.00% of the stock is currently owned by insiders.

Pure Storage 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.