Blue Trust Inc. Grows Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Blue Trust Inc. raised its position in shares of Pure Storage, Inc. (NYSE:PSTGFree Report) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,634 shares of the technology company’s stock after acquiring an additional 468 shares during the period. Blue Trust Inc.’s holdings in Pure Storage were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted 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 valued at $2,469,487,000 after buying an additional 368,643 shares during the period. State Street Corp raised its stake in Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after buying an additional 626,427 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its position in 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 acquiring an additional 177,559 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Pure Storage by 4.3% in 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 acquiring an additional 219,971 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Pure Storage by 22.5% in the 3rd 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. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $67.89 on Monday. The firm has a market capitalization of $22.15 billion, a PE ratio of 178.66, a P/E/G ratio of 8.16 and a beta of 1.09. The business’s 50 day moving average price is $63.36 and its 200-day moving average price is $57.04. Pure Storage, Inc. has a 1 year low of $38.78 and a 1 year high of $73.67.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PSTG shares. Lake Street Capital raised their price objective on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Stifel Nicolaus raised their target price on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Northland Securities reissued a “market perform” rating and set a $63.00 target price (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Read Our Latest Stock Report on PSTG

Insider Buying and Selling at Pure Storage

In related news, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,178 shares of company stock worth $8,871,746 in the last three months. 6.00% of the stock is owned by corporate insiders.

About Pure Storage

(Free Report)

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.

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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