Pure Storage, Inc. (NYSE:PSTG) Position Increased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its stake in Pure Storage, Inc. (NYSE:PSTG) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,208 shares of the technology company’s stock after purchasing an additional 1,742 shares during the period. Asset Management One Co. Ltd.’s holdings in Pure Storage were worth $7,460,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Franklin Resources Inc. increased its position in Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock valued at $137,628,000 after acquiring an additional 1,730,123 shares during the period. 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 period. 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 period. World Investment Advisors LLC acquired a new position in shares of Pure Storage during the 3rd quarter valued at $20,470,000. Finally, FMR LLC increased its position in shares of Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares during the period. Institutional investors own 83.42% of the company’s stock.

Insider Activity 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 stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the sale, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,178 shares of company stock valued at $8,871,746. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Up 0.4 %

Shares of Pure Storage stock opened at $67.78 on Tuesday. The stock has a market cap of $22.11 billion, a PE ratio of 178.38, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09. The business has a fifty day simple moving average of $65.73 and a 200-day simple moving average of $57.68. Pure Storage, Inc. has a 12 month low of $38.78 and a 12 month high of $73.67.

Wall Street Analyst Weigh In

PSTG has been the topic of several research analyst reports. Northland Securities reiterated a “market perform” rating and set a $63.00 price target (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Barclays lifted their price target on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Needham & Company LLC lifted their price target on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer initiated coverage on Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

About Pure Storage

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.