UNICOM Systems Inc. Makes New $17.51 Million Investment in Pure Storage, Inc. (NYSE:PSTG)

UNICOM Systems Inc. purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 285,000 shares of the technology company’s stock, valued at approximately $17,508,000. Pure Storage accounts for about 4.3% of UNICOM Systems Inc.’s investment portfolio, making the stock its 7th biggest position.

Several other hedge funds also recently modified their holdings of PSTG. Sugar Maple Asset Management LLC bought a new stake in Pure Storage during the fourth quarter worth approximately $29,000. Compass Financial Services Inc bought a new stake in shares of Pure Storage during the 4th quarter worth $29,000. ORG Wealth Partners LLC purchased a new position in Pure Storage in the 3rd quarter worth about $31,000. Larson Financial Group LLC raised its holdings in shares of Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after acquiring an additional 212 shares during the period. Finally, Berbice Capital Management LLC acquired a new position in Pure Storage in the 4th quarter worth approximately $37,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was 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 approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 137,178 shares of company stock valued at $8,871,746. Company insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent analyst reports. William Blair reissued an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. 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. TD Cowen lifted their target price on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Finally, Lake Street Capital upped their price objective on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One 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 MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $72.70.

Pure Storage Stock Up 2.7 %

Shares of Pure Storage stock opened at $70.94 on Tuesday. Pure Storage, Inc. has a 12-month low of $38.78 and a 12-month high of $73.67. The stock has a market capitalization of $23.14 billion, a P/E ratio of 186.69, a PEG ratio of 5.26 and a beta of 1.09. The stock has a 50 day moving average price of $64.89 and a two-hundred day moving average price of $57.33.

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.