Erste Asset Management GmbH Invests $15.86 Million in Pure Storage, Inc. (NYSE:PSTG)

Erste Asset Management GmbH purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 316,200 shares of the technology company’s stock, valued at approximately $15,857,000. Erste Asset Management GmbH owned 0.10% of Pure Storage as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted 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 valued at $204,163,000 after acquiring an additional 747,034 shares during the period. Bank of New York Mellon Corp grew its stake in Pure Storage by 56.1% during the second quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock valued at $237,345,000 after acquiring an additional 1,327,873 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Pure Storage by 3.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,861,621 shares of the technology company’s stock valued at $143,768,000 after acquiring an additional 93,106 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in Pure Storage by 0.7% during the 2nd quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock worth $151,405,000 after acquiring an additional 15,747 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Price Performance

PSTG opened at $52.99 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The stock’s 50 day simple moving average is $52.06 and its 200 day simple moving average is $56.80. The firm has a market cap of $17.36 billion, a price-to-earnings ratio of 132.48, a PEG ratio of 7.19 and a beta of 1.10. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the completion of the transaction, the insider now directly owns 500,000 shares of the company’s stock, valued at approximately $24,970,000. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,639 shares in the company, valued at $4,862,874.48. The trade was a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 354,542 shares of company stock valued at $18,599,030. 6.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Needham & Company LLC reduced their price target on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Lake Street Capital reduced their target price on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Evercore ISI lowered their price target on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Oppenheimer assumed coverage on Pure Storage in a report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price objective for the company. Finally, Citigroup lowered their target price on shares of Pure Storage from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.95.

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.