SeaCrest Wealth Management LLC Invests $291,000 in Pure Storage, Inc. (NYSE:PSTG)

SeaCrest Wealth Management LLC acquired a new stake in Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,740 shares of the technology company’s stock, valued at approximately $291,000.

Other hedge funds also recently bought and sold shares of the company. Choreo LLC purchased a new position in Pure Storage during the second quarter worth about $203,000. American Century Companies Inc. boosted its position in shares of Pure Storage by 119.3% during the 2nd quarter. American Century Companies Inc. now owns 164,050 shares of the technology company’s stock valued at $10,534,000 after acquiring an additional 89,255 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Pure Storage by 192.5% during the second quarter. Envestnet Asset Management Inc. now owns 216,459 shares of the technology company’s stock worth $13,899,000 after purchasing an additional 142,451 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Pure Storage by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,303,863 shares of the technology company’s stock worth $83,728,000 after purchasing an additional 235,356 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in Pure Storage by 57.4% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,978 shares of the technology company’s stock valued at $769,000 after purchasing an additional 4,370 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Up 1.6 %

PSTG stock opened at $66.47 on Friday. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 174.94, a PEG ratio of 7.81 and a beta of 1.09. The firm’s 50-day moving average price is $59.63 and its two-hundred day moving average price is $56.81. Pure Storage, Inc. has a 12-month low of $37.26 and a 12-month high of $70.41.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PSTG shares. Lake Street Capital boosted their price target on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus upped their target price on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and raised their price target for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. Evercore ISI lifted their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC increased 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. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Insider Buying and Selling

In related news, insider Ajay Singh sold 19,972 shares of the firm’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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the transaction, the executive now directly owns 72,927 shares in the company, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 237,178 shares of company stock valued at $14,603,746 over the last ninety days. 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.