OV Management LLC Has $5.70 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

OV Management LLC lifted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,772 shares of the technology company’s stock after purchasing an additional 752 shares during the quarter. Pure Storage accounts for approximately 2.6% of OV Management LLC’s portfolio, making the stock its 8th largest position. OV Management LLC’s holdings in Pure Storage were worth $5,699,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Sugar Maple Asset Management LLC bought a new stake in Pure Storage during the fourth quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new stake in shares of Pure Storage during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Pure Storage during the 4th quarter valued at $31,000. Berbice Capital Management LLC bought a new stake in shares of Pure Storage during the 4th quarter worth $37,000. Finally, Financial Life Planners purchased a new position in Pure Storage in the fourth quarter worth $44,000. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Price Performance

PSTG opened at $44.22 on Tuesday. Pure Storage, Inc. has a one year low of $43.43 and a one year high of $73.67. The business has a 50 day simple moving average of $59.65 and a two-hundred day simple moving average of $57.47. The firm has a market capitalization of $14.43 billion, a price-to-earnings ratio of 116.38, a PEG ratio of 5.12 and a beta of 1.09.

Analyst Ratings Changes

A number of research firms have weighed in on PSTG. Needham & Company LLC restated a “buy” rating and set a $75.00 price target on shares of Pure Storage in a research report on Thursday, February 27th. Barclays raised their price objective on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Evercore ISI upped their target price on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus boosted their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Company 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.