Pure Storage, Inc. (NYSE:PSTG) Stake Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,640 shares of the technology company’s stock after purchasing an additional 1,093 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pure Storage were worth $3,172,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Franklin Resources Inc. grew its position in Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after buying an additional 1,730,123 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after acquiring an additional 747,034 shares in the last quarter. State Street Corp raised its holdings in shares of Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after acquiring an additional 626,427 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Pure Storage in the 3rd quarter valued at approximately $20,470,000. Finally, FMR LLC boosted its stake in Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after purchasing an additional 368,643 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity

In other news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the transaction, the executive now owns 72,927 shares in the company, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,178 shares of company stock valued at $8,871,746 over the last 90 days. 6.00% of the stock is currently owned by company insiders.

Pure Storage Stock Performance

Shares of PSTG stock opened at $69.08 on Monday. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 181.78, a PEG ratio of 5.26 and a beta of 1.09. The stock’s 50 day simple moving average is $64.89 and its 200 day simple moving average is $57.34. Pure Storage, Inc. has a twelve month low of $38.78 and a twelve month high of $73.67.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PSTG shares. Citigroup boosted their target price on shares of Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. UBS Group upped their price target on Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Needham & Company LLC raised their price objective on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays increased their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Pure Storage has an average rating of “Moderate Buy” and a consensus price target of $72.70.

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.