49,288 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 49,288 shares of the technology company’s stock, valued at approximately $3,028,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PSTG. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Pure Storage by 19.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 24,103 shares of the technology company’s stock worth $1,481,000 after buying an additional 3,934 shares in the last quarter. Radnor Capital Management LLC grew its stake in shares of Pure Storage by 5.0% during the 4th quarter. Radnor Capital Management LLC now owns 30,590 shares of the technology company’s stock worth $1,879,000 after acquiring an additional 1,470 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Pure Storage by 22.6% in the fourth quarter. Park Avenue Securities LLC now owns 7,990 shares of the technology company’s stock valued at $491,000 after purchasing an additional 1,472 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Pure Storage by 193.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 118,615 shares of the technology company’s stock worth $7,287,000 after purchasing an additional 78,233 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in Pure Storage during the fourth quarter worth $1,196,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PSTG. TD Cowen boosted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their price target on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley boosted their price target on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Evercore ISI increased their price objective on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC boosted their target price on shares of Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $66.47 on Friday. The company has a market capitalization of $21.69 billion, a P/E ratio of 174.94, a P/E/G ratio of 7.81 and a beta of 1.09. The business’s 50 day simple moving average is $59.63 and its 200 day simple moving average is $56.81. Pure Storage, Inc. has a 1 year low of $37.26 and a 1 year high of $70.41.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred 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 transaction, the insider now directly owns 300,000 shares of the company’s stock, valued at $17,196,000. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 237,178 shares of company stock worth $14,603,746. Company insiders own 6.00% of the company’s stock.

Pure Storage Company 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.