Cache Advisors LLC Buys Shares of 35,700 Pure Storage, Inc. (NYSE:PSTG)

Cache Advisors LLC acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 35,700 shares of the technology company's stock, valued at approximately $2,193,000. Pure Storage comprises about 0.8% of Cache Advisors LLC's holdings, making the stock its 27th biggest holding.

Several other institutional investors have also modified their holdings of PSTG. McIlrath & Eck LLC acquired a new position in shares of Pure Storage in the 4th quarter valued at $25,000. Compass Financial Services Inc acquired a new position in shares of Pure Storage in the 4th quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Pure Storage in the 4th quarter valued at $31,000. Berbice Capital Management LLC acquired a new position in shares of Pure Storage in the 4th quarter valued at $37,000. Finally, Financial Life Planners acquired a new position in shares of Pure Storage in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analyst Ratings Changes

PSTG has been the topic of a number of recent research reports. Piper Sandler cut their target price on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Evercore ISI boosted their price objective on shares of Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday. Citigroup boosted their price objective on shares of Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Wall Street Zen cut shares of Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, Morgan Stanley boosted their price objective on shares of Pure Storage from $40.00 to $62.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.70.

Pure Storage Stock Up 0.1%

Shares of Pure Storage stock traded up $0.06 on Tuesday, hitting $55.50. The company's stock had a trading volume of 4,591,902 shares, compared to its average volume of 3,091,190. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67. The firm has a fifty day moving average price of $47.20 and a 200-day moving average price of $55.89. The company has a market capitalization of $18.09 billion, a P/E ratio of 146.06, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $52.01, for a total value of $5,201,000.00. Following the sale, the insider now directly owns 801,959 shares in the company, valued at $41,709,887.59. The trade was a 11.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Dan Fitzsimons sold 6,977 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the transaction, the executive now owns 90,223 shares in the company, valued at approximately $3,691,022.93. This trade represents a 7.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,849 shares of company stock worth $5,531,346 in the last three months. Corporate insiders own 5.60% of the company's stock.

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.