DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Purchases 36,520 Shares of Pure Storage, Inc. (NYSE:PSTG)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 48.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 111,140 shares of the technology company's stock after buying an additional 36,520 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Pure Storage were worth $6,827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sugar Maple Asset Management LLC purchased a new position in Pure Storage during the fourth quarter valued at $29,000. Compass Financial Services Inc purchased a new position in Pure Storage during the fourth quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new position in Pure Storage during the fourth quarter valued at $31,000. Berbice Capital Management LLC purchased a new position in Pure Storage during the fourth quarter valued at $37,000. Finally, Financial Life Planners purchased a new position in Pure Storage during the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insider Activity

In other news, CRO Dan Fitzsimons sold 872 shares of Pure Storage stock in a transaction on Monday, May 12th. The stock was sold at an average price of $51.51, for a total value of $44,916.72. Following the transaction, the executive now directly owns 89,351 shares in the company, valued at approximately $4,602,470.01. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on 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 completion of the transaction, the insider now owns 801,959 shares in the company, valued at $41,709,887.59. This represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,849 shares of company stock valued at $5,531,346 in the last ninety days. Insiders own 6.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup reduced their target price on Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a report on Monday, April 14th. UBS Group raised their target price on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a report on Thursday, February 27th. Piper Sandler cut their price objective on Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 price objective on shares of Pure Storage in a report on Thursday, February 27th. Finally, StockNews.com lowered Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Pure Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.20.

Pure Storage Price Performance

Shares of NYSE:PSTG traded down $0.62 during trading on Thursday, hitting $55.82. The company had a trading volume of 1,548,672 shares, compared to its average volume of 3,089,398. The stock has a market cap of $18.20 billion, a price-to-earnings ratio of 146.96, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The company has a fifty day simple moving average of $46.18 and a two-hundred day simple moving average of $55.66.

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.