Pure Storage, Inc. (NYSE:PSTG) Stock Holdings Trimmed by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Pure Storage, Inc. (NYSE:PSTG) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,712 shares of the technology company’s stock after selling 2,309 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pure Storage were worth $4,282,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Franklin Resources Inc. lifted its holdings in 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 purchasing an additional 1,730,123 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Pure Storage during the 4th quarter worth about $70,971,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake 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 during the period. State Street Corp boosted its holdings in shares of Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after acquiring an additional 626,427 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of Pure Storage during the third quarter valued at approximately $20,470,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Trading Up 5.0 %

NYSE PSTG opened at $50.99 on Friday. Pure Storage, Inc. has a 1-year low of $44.76 and a 1-year high of $73.67. The firm’s fifty day simple moving average is $62.86 and its 200-day simple moving average is $57.38. The company has a market capitalization of $16.63 billion, a PE ratio of 134.17, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Analysts Set New Price Targets

PSTG has been the subject of a number of research analyst reports. UBS Group upped their target price on Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Thursday, February 27th. Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and raised their target price for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. StockNews.com cut shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Barclays raised their price objective on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Finally, Lake Street Capital boosted their target price on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 262,144 shares in the company, valued at $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the transaction, the executive now owns 72,927 shares in the company, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.