LGT Group Foundation Raises Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

LGT Group Foundation boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,871 shares of the technology company’s stock after buying an additional 5,361 shares during the quarter. LGT Group Foundation’s holdings in Pure Storage were worth $5,828,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC raised its position 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 buying an additional 368,643 shares during the last quarter. State Street Corp increased its position in shares of Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after purchasing an additional 626,427 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in shares of Pure Storage by 3.2% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock valued at $285,575,000 after purchasing an additional 177,559 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Pure Storage by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock valued at $269,798,000 after purchasing an additional 219,971 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Pure Storage by 22.5% during the 3rd 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 purchasing an additional 747,034 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

PSTG stock opened at $49.50 on Tuesday. Pure Storage, Inc. has a 1-year low of $44.76 and a 1-year high of $73.67. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 130.27, a PEG ratio of 5.12 and a beta of 1.09. The business has a 50 day simple moving average of $65.37 and a two-hundred day simple moving average of $58.09.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PSTG shares. Citigroup reduced their price target on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company upped 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. UBS Group upped their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, February 27th. Bank of America reduced 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 report on Thursday, February 27th. Finally, TD Cowen upped their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One 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 company’s stock. Based on data from MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and a consensus price target of $73.20.

Insiders Place Their Bets

In other news, insider Ajay Singh sold 19,972 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the transaction, the chief accounting officer now owns 67,681 shares of the company’s stock, valued at $4,207,050.96. This represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock worth $8,871,746 in the last three months. 6.00% of the stock is owned by company insiders.

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.