Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 18.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 243,185 shares of the technology company’s stock after purchasing an additional 37,906 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Pure Storage were worth $15,620,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Korea Investment CORP lifted its stake in Pure Storage by 38.2% in the 4th quarter. Korea Investment CORP now owns 314,582 shares of the technology company’s stock worth $19,325,000 after purchasing an additional 86,987 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Pure Storage in the fourth quarter valued at approximately $276,000. EFG Asset Management North America Corp. lifted its position in Pure Storage by 13.5% during the fourth quarter. EFG Asset Management North America Corp. now owns 34,703 shares of the technology company’s stock worth $2,132,000 after buying an additional 4,115 shares in the last quarter. Prudential Financial Inc. boosted its stake in Pure Storage by 155.8% during the fourth quarter. Prudential Financial Inc. now owns 89,571 shares of the technology company’s stock worth $5,502,000 after buying an additional 54,557 shares during the last quarter. Finally, Summit Creek Advisors LLC grew its holdings in Pure Storage by 0.3% in the 4th quarter. Summit Creek Advisors LLC now owns 373,369 shares of the technology company’s stock valued at $22,936,000 after buying an additional 1,099 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Trading Down 3.9 %

Shares of NYSE PSTG opened at $44.22 on Tuesday. The stock has a market cap of $14.43 billion, a P/E ratio of 116.38, a PEG ratio of 5.12 and a beta of 1.09. The business’s fifty day simple moving average is $59.65 and its 200-day simple moving average is $57.47. Pure Storage, Inc. has a 12-month low of $43.70 and a 12-month high of $73.67.

Analyst Ratings Changes

PSTG has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Bank of America dropped their price target on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Citigroup reduced their price target on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Stifel Nicolaus increased their price objective on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, UBS Group lifted their target price on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $73.20.

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.