POM Investment Strategies LLC Invests $147,000 in Pure Storage, Inc. (NYSE:PSTG)

POM Investment Strategies LLC bought a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,393 shares of the technology company’s stock, valued at approximately $147,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSTG. Truist Financial Corp raised its holdings in shares of Pure Storage by 19.3% during the 2nd quarter. Truist Financial Corp now owns 12,561 shares of the technology company’s stock worth $807,000 after acquiring an additional 2,028 shares in the last quarter. UMB Bank n.a. increased its position in Pure Storage by 26.0% in the third quarter. UMB Bank n.a. now owns 1,485 shares of the technology company’s stock worth $75,000 after purchasing an additional 306 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Pure Storage by 93.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,300 shares of the technology company’s stock valued at $116,000 after purchasing an additional 1,111 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Pure Storage by 34.8% during the third quarter. Exchange Traded Concepts LLC now owns 58,102 shares of the technology company’s stock valued at $2,919,000 after purchasing an additional 15,013 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Pure Storage in the 3rd quarter worth $226,000. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Trading Up 2.7 %

Shares of Pure Storage stock opened at $70.94 on Tuesday. The stock’s fifty day moving average price is $64.89 and its 200-day moving average price is $57.33. The firm has a market cap of $23.14 billion, a P/E ratio of 186.69, a P/E/G ratio of 5.26 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $38.78 and a 12 month high of $73.67.

Insider Buying and Selling at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the sale, the executive now directly owns 72,927 shares in the company, valued at $4,675,349.97. This represents a 10.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage 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 transaction, the insider now owns 7,316,722 shares in the company, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,178 shares of company stock valued at $8,871,746. Company insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PSTG shares. Barclays upped their target price 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. UBS Group raised their price objective on Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Citigroup boosted their target price on Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC raised their price target on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley boosted 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 report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

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.