Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Comerica Bank

Comerica Bank increased its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 105.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,527 shares of the technology company's stock after acquiring an additional 223,679 shares during the period. Comerica Bank owned approximately 0.13% of Pure Storage worth $26,816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sycomore Asset Management raised its holdings in shares of Pure Storage by 57.8% in the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company's stock valued at $11,541,000 after purchasing an additional 68,840 shares in the last quarter. Asio Capital LLC purchased a new stake in Pure Storage during the 4th quarter worth about $264,000. Oak Thistle LLC purchased a new stake in Pure Storage during the 4th quarter worth about $1,196,000. Franklin Resources Inc. boosted its position in shares of Pure Storage by 210.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock worth $137,628,000 after acquiring an additional 1,730,123 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Pure Storage by 23.5% in the 4th quarter. Victory Capital Management Inc. now owns 284,649 shares of the technology company's stock valued at $17,486,000 after acquiring an additional 54,256 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, February 27th. Bank of America reduced their target price on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Citigroup dropped their price target on Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a report 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 analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, Pure Storage currently has an average rating of "Moderate Buy" and an average price target of $70.20.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,977 shares of the firm'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 sale, the executive now directly owns 90,223 shares of the company's stock, valued at approximately $3,691,022.93. This trade represents a 7.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.00% of the company's stock.

Pure Storage Stock Performance

NYSE PSTG traded up $1.38 during mid-day trading on Friday, reaching $47.84. 1,857,320 shares of the stock were exchanged, compared to its average volume of 3,103,633. The stock has a market capitalization of $15.60 billion, a PE ratio of 125.90, a PEG ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The business's fifty day simple moving average is $46.43 and its 200 day simple moving average is $55.90.

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.