3,829 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by Gries Financial LLC

Gries Financial LLC purchased a new position in Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,829 shares of the technology company’s stock, valued at approximately $235,000.

Several other institutional investors also recently modified their holdings of the stock. Swedbank AB raised its position in shares of Pure Storage by 6.7% during the fourth quarter. Swedbank AB now owns 44,950 shares of the technology company’s stock worth $2,761,000 after purchasing an additional 2,812 shares during the period. Forsta AP Fonden increased its stake in Pure Storage by 99.3% in the 4th quarter. Forsta AP Fonden now owns 134,500 shares of the technology company’s stock worth $8,262,000 after purchasing an additional 67,000 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in Pure Storage by 32.6% during the 4th quarter. Perigon Wealth Management LLC now owns 5,918 shares of the technology company’s stock worth $387,000 after buying an additional 1,455 shares during the period. Integrity Wealth Solutions LLC purchased a new stake in Pure Storage during the fourth quarter valued at about $622,000. Finally, Cherry Creek Investment Advisors Inc. boosted its holdings in shares of 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 buying an additional 189 shares during the period. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Barclays increased their target price on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $56.00 to $76.00 in a report on Wednesday, December 4th. Citigroup increased their price objective on Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer assumed coverage on Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.70.

Pure Storage Stock Performance

PSTG opened at $68.37 on Friday. The company has a market cap of $22.31 billion, a PE ratio of 179.93, a price-to-earnings-growth ratio of 8.72 and a beta of 1.09. The stock has a 50-day moving average of $62.70 and a 200-day moving average of $57.00. Pure Storage, Inc. has a 52-week low of $38.78 and a 52-week high of $73.67.

Insiders Place Their Bets

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the sale, the insider now directly owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This represents 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 valued at $8,871,746 over the last 90 days. 6.00% of the stock is currently owned by company insiders.

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.