Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Pure Storage, Inc. (NYSE:PSTG) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,640 shares of the technology company’s stock after purchasing an additional 1,093 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pure Storage were worth $3,172,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PSTG. Sugar Maple Asset Management LLC purchased a new position in shares of Pure Storage during the fourth quarter worth about $29,000. ORG Wealth Partners LLC purchased a new position in shares of Pure Storage in the 3rd quarter valued at approximately $31,000. Larson Financial Group LLC grew its stake in shares of Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares during the last quarter. Berbice Capital Management LLC acquired a new position in shares of Pure Storage in the fourth quarter valued at approximately $37,000. Finally, Venturi Wealth Management LLC raised its stake 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 last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CRO Dan Fitzsimons sold 8,895 shares of the company’s 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 completion of the sale, the executive now directly owns 72,927 shares in the company, valued at $4,675,349.97. This represents a 10.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total value of $6,555,000.00. Following the sale, the insider now owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Oppenheimer initiated coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley increased their price target on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Barclays lifted their price objective on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Finally, Lake Street Capital increased their target price on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

Pure Storage Price Performance

PSTG stock opened at $69.08 on Monday. The company’s 50 day simple moving average is $64.89 and its 200-day simple moving average is $57.34. The firm has a market capitalization of $22.54 billion, a PE ratio of 181.78, a P/E/G ratio of 5.26 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $38.78 and a 12 month high of $73.67.

About Pure Storage

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.