EFG Asset Management North America Corp. Raises Position in Pure Storage, Inc. (NYSE:PSTG)

EFG Asset Management North America Corp. lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 13.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 34,703 shares of the technology company’s stock after buying an additional 4,115 shares during the period. EFG Asset Management North America Corp.’s holdings in Pure Storage were worth $2,132,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Prospera Financial Services Inc grew its position in Pure Storage by 22.9% in the 3rd quarter. Prospera Financial Services Inc now owns 4,960 shares of the technology company’s stock worth $249,000 after purchasing an additional 925 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after buying an additional 14,659 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after acquiring an additional 212 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Pure Storage by 92.0% in the third quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock valued at $9,570,000 after acquiring an additional 92,762 shares in the last quarter. Finally, FMR LLC increased its position in shares of Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after acquiring an additional 368,643 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PSTG. Morgan Stanley boosted their price objective on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Bank of America reduced their price target on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. StockNews.com lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Citigroup reduced their target price on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, UBS Group lifted their price target on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

Pure Storage Stock Up 0.2 %

NYSE:PSTG opened at $52.96 on Wednesday. The business’s 50-day moving average price is $61.12 and its two-hundred day moving average price is $57.47. The stock has a market cap of $17.28 billion, a P/E ratio of 139.37, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the business’s 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 completion of the sale, the insider now directly owns 262,144 shares of the company’s stock, 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 document filed with the SEC, which is available at the SEC website. 6.00% of the stock is currently owned by company insiders.

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.