Raymond James Financial Services Advisors Inc. grew its stake in shares of Pure Storage, Inc. (NYSE:PSTG – Get Rating) by 11.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 165,334 shares of the technology company's stock after acquiring an additional 17,237 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.06% of Pure Storage worth $4,525,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PSTG. Whittier Trust Co. lifted its position in shares of Pure Storage by 286.8% during the 3rd quarter. Whittier Trust Co. now owns 1,176 shares of the technology company's stock worth $32,000 after buying an additional 872 shares during the last quarter. Parkside Financial Bank & Trust bought a new stake in shares of Pure Storage during the 1st quarter worth $33,000. Banque Cantonale Vaudoise bought a new stake in shares of Pure Storage during the 3rd quarter worth $38,000. Cullen Frost Bankers Inc. bought a new stake in shares of Pure Storage during the 2nd quarter worth $41,000. Finally, Allworth Financial LP lifted its position in shares of Pure Storage by 40.4% during the 2nd quarter. Allworth Financial LP now owns 1,835 shares of the technology company's stock worth $47,000 after buying an additional 528 shares during the last quarter. 84.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on PSTG. Susquehanna upped their price objective on Pure Storage from $40.00 to $44.00 in a research report on Thursday, December 1st. JPMorgan Chase & Co. dropped their price objective on Pure Storage from $43.00 to $40.00 and set an "overweight" rating for the company in a research report on Friday, November 25th. TheStreet raised Pure Storage from a "c" rating to a "b" rating in a report on Wednesday, November 30th. Morgan Stanley raised Pure Storage from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $35.00 to $37.00 in a report on Monday, October 31st. Finally, Wedbush upped their target price on Pure Storage to $36.00 in a report on Friday, December 2nd. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.94.

Pure Storage Trading Up 0.4 %

Insider Buying and Selling

In related news, CFO P. Kevan Krysler sold 27,679 shares of the firm's stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $27.06, for a total transaction of $748,993.74. Following the completion of the sale, the chief financial officer now owns 480,831 shares of the company's stock, valued at $13,011,286.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Gregory Tomb sold 10,643 shares of the firm's stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $26.65, for a total transaction of $283,635.95. Following the completion of the sale, the director now owns 30,544 shares of the company's stock, valued at $813,997.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO P. Kevan Krysler sold 27,679 shares of the firm's stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $27.06, for a total value of $748,993.74. Following the sale, the chief financial officer now directly owns 480,831 shares of the company's stock, valued at approximately $13,011,286.86. The disclosure for this sale can be found here. Insiders sold 59,170 shares of company stock valued at $1,605,075 over the last 90 days. Company insiders own 6.80% of the company's stock.

Pure Storage Profile

(Get Rating)

Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

Further Reading

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