Meiji Yasuda Asset Management Co Ltd. Purchases 4,370 Shares of Pure Storage, Inc. (NYSE:PSTG)

Meiji Yasuda Asset Management Co Ltd. raised its position in Pure Storage, Inc. (NYSE:PSTG) by 57.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,978 shares of the technology company’s stock after acquiring an additional 4,370 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Pure Storage were worth $769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Pure Storage during the fourth quarter valued at about $115,452,000. Bank of New York Mellon Corp lifted its stake in shares of Pure Storage by 56.1% during the second quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock worth $237,345,000 after buying an additional 1,327,873 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Pure Storage by 4,095.7% during the first quarter. Principal Financial Group Inc. now owns 1,121,344 shares of the technology company’s stock valued at $58,299,000 after buying an additional 1,094,618 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Pure Storage by 835.2% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,078,454 shares of the technology company’s stock valued at $38,458,000 after acquiring an additional 963,140 shares during the period. Finally, Vanguard Group Inc. raised its stake in Pure Storage by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 31,294,297 shares of the technology company’s stock worth $1,115,955,000 after acquiring an additional 567,358 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pure Storage

In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $63.79, for a total transaction of $911,941.84. Following the completion of the transaction, the chief financial officer now owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $63.79, for a total transaction of $911,941.84. Following the completion of the sale, the chief financial officer now owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the completion of the transaction, the insider now directly owns 900,000 shares in the company, valued at $53,550,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 324,177 shares of company stock valued at $18,863,083. 6.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PSTG has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. KeyCorp increased their price objective on shares of Pure Storage from $64.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Lake Street Capital decreased their target price on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Evercore ISI cut their price target on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Finally, Stifel Nicolaus reduced their price objective on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.95.

Pure Storage Stock Up 1.9 %

Shares of NYSE PSTG opened at $50.72 on Friday. The firm has a market cap of $16.50 billion, a price-to-earnings ratio of 181.14, a price-to-earnings-growth ratio of 7.69 and a beta of 1.11. The company’s 50-day simple moving average is $55.66 and its 200-day simple moving average is $57.01. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41.

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.