Gallacher Capital Management LLC Purchases Shares of 3,794 Pure Storage, Inc. (NYSE:PSTG)

Gallacher Capital Management LLC purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,794 shares of the technology company’s stock, valued at approximately $233,000.

Other institutional investors also recently modified their holdings of the company. Citigroup Inc. boosted its holdings in shares of Pure Storage by 11.3% during the third quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after purchasing an additional 14,659 shares during the period. TT International Asset Management LTD boosted its holdings in Pure Storage by 1,160.1% in the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock worth $3,671,000 after purchasing an additional 67,285 shares during the last quarter. FMR LLC lifted its stake in shares of Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after buying an additional 368,643 shares in the last quarter. Sycomore Asset Management increased its holdings in Pure Storage by 57.8% in the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock valued at $11,541,000 after acquiring an additional 68,840 shares during the last quarter. Finally, Asio Capital LLC purchased a new position in shares of Pure Storage during the 4th quarter worth about $264,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Trading Up 5.0 %

NYSE:PSTG opened at $50.99 on Monday. The stock has a market cap of $16.63 billion, a P/E ratio of 134.17, a PEG ratio of 5.12 and a beta of 1.09. The stock has a 50 day simple moving average of $62.86 and a 200 day simple moving average of $57.34. Pure Storage, Inc. has a 1-year low of $44.76 and a 1-year high of $73.67.

Insider Buying and Selling

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value 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 $4,675,349.97. The trade was a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction 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 transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PSTG has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their price objective on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Stifel Nicolaus lifted their target price on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI boosted their price target on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

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.