Nordea Investment Management AB Has $1.42 Million Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Nordea Investment Management AB lifted its position in Pure Storage, Inc. (NYSE:PSTG) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,034 shares of the technology company’s stock after acquiring an additional 1,542 shares during the quarter. Nordea Investment Management AB’s holdings in Pure Storage were worth $1,424,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PSTG. Franklin Resources Inc. lifted its holdings in shares of Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after buying an additional 1,730,123 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in 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 last quarter. State Street Corp boosted its position in Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after buying an additional 626,427 shares during the period. World Investment Advisors LLC purchased a new stake in Pure Storage during the third quarter valued at about $20,470,000. Finally, FMR LLC boosted its holdings in shares of Pure Storage by 0.8% during the third 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. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PSTG. Needham & Company LLC raised their price objective on shares of Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. William Blair restated an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. 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 report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.70.

Pure Storage Stock Performance

NYSE:PSTG opened at $64.88 on Monday. Pure Storage, Inc. has a twelve month low of $35.35 and a twelve month high of $70.41. The company has a market cap of $21.17 billion, a P/E ratio of 170.74, a P/E/G ratio of 7.69 and a beta of 1.09. The company’s 50-day moving average price is $58.41 and its 200-day moving average price is $56.71. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07.

Insider Buying and Selling at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the sale, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction 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 sale, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 237,178 shares of company stock worth $14,603,746 over the last three months. 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.