Crowley Wealth Management Inc. Makes New Investment in Pure Storage, Inc. (NYSE:PSTG)

Crowley Wealth Management Inc. bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 500 shares of the technology company’s stock, valued at approximately $31,000.

A number of other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its position in Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. Vanguard Group Inc. boosted its position in Pure Storage by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company’s stock worth $2,054,448,000 after purchasing an additional 615,931 shares in the last quarter. State Street Corp lifted its position in shares of Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after acquiring an additional 626,427 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Pure Storage by 3.2% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock valued at $285,575,000 after acquiring an additional 177,559 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Pure Storage by 4.3% in the third quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock valued at $269,798,000 after acquiring an additional 219,971 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Price Performance

Pure Storage stock opened at $51.11 on Monday. Pure Storage, Inc. has a 12 month low of $44.76 and a 12 month high of $73.67. The company has a market cap of $16.67 billion, a price-to-earnings ratio of 134.51, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The stock’s 50-day moving average is $61.53 and its 200-day moving average is $57.38.

Insider Activity

In other news, insider Ajay Singh sold 19,972 shares of the stock in a transaction dated 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 in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the sale, the executive now owns 72,927 shares of the company’s stock, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PSTG. UBS Group upped their price objective on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, February 27th. Evercore ISI upped their price objective on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Morgan Stanley upped their price objective on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Citigroup reduced their price objective on Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Barclays upped 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Pure Storage has an average rating of “Moderate Buy” and an average target price of $73.20.

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.