Petredis Investment Advisors LLC Invests $201,000 in Pure Storage, Inc. (NYSE:PSTG)

Petredis Investment Advisors LLC acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,268 shares of the technology company’s stock, valued at approximately $201,000.

Other hedge funds have also modified their holdings of the company. Sycomore Asset Management bought a new position in shares of Pure Storage during the second quarter worth about $2,259,000. Citigroup Inc. grew its stake in Pure Storage by 11.3% in the third quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after purchasing an additional 14,659 shares in the last quarter. TT International Asset Management LTD grew its stake 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 valued at $3,671,000 after purchasing an additional 67,285 shares in the last quarter. FMR LLC grew its stake in Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in Pure Storage by 92.0% in the third quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock valued at $9,570,000 after purchasing an additional 92,762 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at $4,207,050.96. The trade was a 10.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,178 shares of company stock valued at $8,871,746. 6.00% of the stock is currently owned by company insiders.

Pure Storage Trading Down 0.3 %

Shares of PSTG opened at $72.15 on Friday. The company has a market capitalization of $23.54 billion, a PE ratio of 189.87, a PEG 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. The stock’s 50-day moving average price is $61.21 and its two-hundred day moving average price is $57.00.

Analyst Ratings Changes

A number of research firms have weighed in on PSTG. Citigroup raised their price target on Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays raised their price objective on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Needham & Company LLC raised their price objective on Pure Storage from $62.00 to $75.00 and gave the company a “buy” 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 report on Wednesday, December 4th. Finally, TD Cowen raised their price objective on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and a consensus price target 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.