MGO One Seven LLC Purchases 2,040 Shares of Pure Storage, Inc. (NYSE:PSTG)

MGO One Seven LLC lifted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 27.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,519 shares of the technology company’s stock after purchasing an additional 2,040 shares during the quarter. MGO One Seven LLC’s holdings in Pure Storage were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PSTG. Sugar Maple Asset Management LLC acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $29,000. Compass Financial Services Inc acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $31,000. Berbice Capital Management LLC acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $37,000. Finally, Financial Life Planners acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several recent analyst reports. UBS Group boosted their price target on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a research report on Thursday, February 27th. Bank of America lowered their price target on Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Citigroup lowered their price target on Pure Storage from $77.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.95.

Insiders Place Their Bets

In other Pure Storage news, CRO Dan Fitzsimons sold 6,977 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $40.91, for a total value of $285,429.07. Following the completion of the sale, the executive now directly owns 90,223 shares in the company, valued at $3,691,022.93. This represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $45.71 on Monday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67. The business has a 50-day moving average of $48.34 and a two-hundred day moving average of $56.17. The company has a market capitalization of $14.90 billion, a P/E ratio of 120.29, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08.

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.