Wesbanco Bank Inc. Increases Holdings in Pure Storage, Inc. (NYSE:PSTG)

Wesbanco Bank Inc. lifted its position in Pure Storage, Inc. (NYSE:PSTG) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,095 shares of the technology company’s stock after buying an additional 3,000 shares during the period. Wesbanco Bank Inc.’s holdings in Pure Storage were worth $2,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new position in Pure Storage in the fourth quarter worth about $29,000. ORG Wealth Partners LLC purchased a new stake in Pure Storage during the third quarter valued at approximately $31,000. Larson Financial Group LLC raised its position in Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after acquiring an additional 212 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after acquiring an additional 219 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Pure Storage during the 3rd quarter valued at $50,000. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

PSTG has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Guggenheim boosted their price objective on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC raised their target price on shares of Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. William Blair reiterated an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Finally, TD Cowen raised their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.70.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the firm’s 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the transaction, the insider now owns 7,316,722 shares in the company, valued at $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock worth $8,871,746 over the last 90 days. 6.00% of the stock is owned by insiders.

Pure Storage Stock Performance

PSTG stock opened at $72.44 on Friday. The firm has a fifty day moving average price of $60.75 and a 200 day moving average price of $56.89. Pure Storage, Inc. has a fifty-two week low of $38.78 and a fifty-two week high of $73.67. The firm has a market cap of $23.63 billion, a PE ratio of 190.63, a price-to-earnings-growth ratio of 8.45 and a beta of 1.09.

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.