Bank of New York Mellon Corp Purchases 9,985 Shares of Pure Storage, Inc. (NYSE:PSTG)

Bank of New York Mellon Corp boosted its position in Pure Storage, Inc. (NYSE:PSTG) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,508,029 shares of the technology company’s stock after buying an additional 9,985 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.08% of Pure Storage worth $215,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Cherry Creek Investment Advisors Inc. lifted its holdings in shares of Pure Storage by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock worth $4,130,000 after acquiring an additional 189 shares during the last quarter. Nvwm LLC lifted its position in Pure Storage by 23.3% in the third quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after purchasing an additional 194 shares during the last quarter. Larson Financial Group LLC boosted its position in Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after buying an additional 212 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after purchasing an additional 219 shares during the period. Finally, Brookstone Capital Management lifted its holdings in Pure Storage by 3.1% in the 4th quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock worth $486,000 after buying an additional 240 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Down 15.1 %

NYSE PSTG opened at $53.04 on Friday. The company has a 50-day moving average price of $65.90 and a 200-day moving average price of $58.24. Pure Storage, Inc. has a 52 week low of $40.95 and a 52 week high of $73.67. The firm has a market capitalization of $17.30 billion, a P/E ratio of 139.58, a PEG ratio of 5.12 and a beta of 1.09.

Insider Activity at Pure Storage

In other news, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at $4,207,050.96. The trade was a 10.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PSTG has been the topic of several research reports. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Evercore ISI increased their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stifel Nicolaus lifted their target price on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Northland Securities reiterated a “market perform” rating and set a $63.00 price target (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Finally, Morgan Stanley raised their price target on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Company 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.