Truist Financial Corp Purchases 890 Shares of Pure Storage, Inc. (NYSE:PSTG)

Truist Financial Corp increased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,032 shares of the technology company’s stock after acquiring an additional 890 shares during the quarter. Truist Financial Corp’s holdings in Pure Storage were worth $862,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in shares of Pure Storage by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 9,679 shares of the technology company’s stock valued at $595,000 after acquiring an additional 500 shares during the last quarter. Strategic Advisors LLC purchased a new stake in shares of Pure Storage in the 4th quarter valued at $1,290,000. Secured Retirement Advisors LLC purchased a new stake in shares of Pure Storage in the 4th quarter valued at $978,000. Congress Asset Management Co. boosted its holdings in shares of Pure Storage by 4.0% in the 4th quarter. Congress Asset Management Co. now owns 1,956,344 shares of the technology company’s stock valued at $120,178,000 after acquiring an additional 76,010 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Pure Storage by 0.5% in the 4th quarter. Rhumbline Advisers now owns 909,959 shares of the technology company’s stock valued at $55,899,000 after acquiring an additional 4,192 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated 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 directly owns 7,316,722 shares in the company, valued at $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ajay Singh sold 19,972 shares of the 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 owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This trade represents a 7.08 % 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 over the last three months. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PSTG shares. Stifel Nicolaus upped their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Barclays increased their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. TD Cowen increased their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Oppenheimer initiated coverage on shares of Pure Storage in a report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. Finally, Evercore ISI increased their price target on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Stock Down 1.5 %

Shares of NYSE PSTG opened at $52.42 on Friday. The firm has a 50-day simple moving average of $65.66 and a 200-day simple moving average of $58.20. The stock has a market capitalization of $17.10 billion, a price-to-earnings ratio of 137.95, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 52 week low of $44.76 and a 52 week high of $73.67.

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.