Linden Thomas Advisory Services LLC Grows Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Linden Thomas Advisory Services LLC boosted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 6.3% in the fourth quarter, Holdings Channel reports. The fund owned 21,432 shares of the technology company’s stock after purchasing an additional 1,278 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Pure Storage were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PSTG. Benjamin F. Edwards & Company Inc. grew its position in Pure Storage by 250.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,022 shares of the technology company’s stock valued at $66,000 after buying an additional 730 shares during the last quarter. AE Wealth Management LLC acquired a new stake in shares of Pure Storage in the 2nd quarter worth $260,000. ProShare Advisors LLC boosted its holdings in shares of Pure Storage by 92.3% in the second quarter. ProShare Advisors LLC now owns 31,828 shares of the technology company’s stock valued at $2,044,000 after acquiring an additional 15,280 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Pure Storage during the second quarter worth about $267,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Pure Storage during the second quarter worth about $3,796,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Price Performance

Pure Storage stock opened at $72.15 on Friday. The firm’s 50-day moving average is $61.69 and its two-hundred day moving average is $57.05. The stock has a market capitalization of $23.54 billion, a P/E ratio of 189.87, a P/E/G ratio of 8.72 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.

Analyst Ratings Changes

A number of brokerages have weighed in on PSTG. Morgan Stanley boosted their target price 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. Needham & Company LLC upped their price objective on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their target price on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. TD Cowen upped their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer started coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective for the company. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction dated 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 sale, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is owned by 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.