J. Safra Sarasin Holding AG purchased a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 50,715 shares of the technology company's stock, valued at approximately $3,115,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSTG. Vanguard Group Inc. grew its stake in Pure Storage by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company's stock worth $2,054,448,000 after buying an additional 615,931 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Pure Storage by 25.4% during the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock worth $413,982,000 after buying an additional 1,366,458 shares in the last quarter. Champlain Investment Partners LLC increased its stake in Pure Storage by 3.0% in the 4th quarter. Champlain Investment Partners LLC now owns 5,921,392 shares of the technology company's stock valued at $363,751,000 after purchasing an additional 174,449 shares in the last quarter. Invesco Ltd. increased its position in shares of Pure Storage by 18.8% in the fourth quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company's stock valued at $255,677,000 after buying an additional 657,175 shares in the last quarter. Finally, Norges Bank acquired a new position in Pure Storage during the fourth quarter worth about $216,690,000. Institutional investors and hedge funds own 83.42% of the company's stock.
Pure Storage Trading Up 1.3 %
PSTG traded up $0.58 during trading on Friday, reaching $45.71. 1,806,817 shares of the company were exchanged, compared to its average volume of 3,118,808. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67. The stock has a market cap of $14.90 billion, a P/E ratio of 120.29, a PEG ratio of 5.12 and a beta of 1.08. The firm has a 50 day moving average of $48.34 and a 200 day moving average of $56.17.
Wall Street Analyst Weigh In
A number of analysts recently commented on PSTG shares. Needham & Company LLC reiterated a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a research report on Thursday, February 27th. UBS Group upped their price objective on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a report on Thursday, February 27th. StockNews.com cut shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Bank of America reduced their price objective on Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Finally, Piper Sandler dropped their price objective on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $70.95.
Get Our Latest Stock Report on Pure Storage
Insider Activity at Pure Storage
In other news, CRO Dan Fitzsimons sold 6,977 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were 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 of the company's stock, valued at approximately $3,691,022.93. This represents a 7.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.00% of the stock is currently owned by insiders.
About Pure Storage
(
Free Report)
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.
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