Korea Investment CORP Has $19.33 Million Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Korea Investment CORP raised its stake in Pure Storage, Inc. (NYSE:PSTG) by 38.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,582 shares of the technology company’s stock after buying an additional 86,987 shares during the period. Korea Investment CORP’s holdings in Pure Storage were worth $19,325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in shares of Pure Storage by 1.4% during the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock valued at $815,000 after acquiring an additional 186 shares in the last quarter. Cherry Creek Investment Advisors Inc. boosted its stake in shares of Pure Storage by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock valued at $4,130,000 after purchasing an additional 189 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares in the last quarter. Brookstone Capital Management grew its holdings in shares of Pure Storage by 3.1% during the fourth quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock worth $486,000 after purchasing an additional 240 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Pure Storage by 0.6% in the fourth quarter. KBC Group NV now owns 39,523 shares of the technology company’s stock valued at $2,428,000 after buying an additional 246 shares during the period. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Bank of America decreased 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. Lake Street Capital raised their target price on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Northland Securities restated a “market perform” rating and set a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. One investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Stock Down 5.0 %

Shares of PSTG opened at $46.00 on Friday. The business’s fifty day moving average is $60.09 and its 200 day moving average is $57.43. Pure Storage, Inc. has a 12-month low of $44.76 and a 12-month high of $73.67. The stock has a market cap of $15.01 billion, a P/E ratio of 121.04, a P/E/G ratio of 5.12 and a beta of 1.09.

Insiders Place Their Bets

In other news, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the sale, the insider now directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.00% of the company’s stock.

Pure Storage 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.