Mitsubishi UFJ Asset Management Co. Ltd. Buys 37,906 Shares of Pure Storage, Inc. (NYSE:PSTG)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Pure Storage, Inc. (NYSE:PSTG) by 18.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 243,185 shares of the technology company’s stock after purchasing an additional 37,906 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of Pure Storage worth $15,620,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. TT International Asset Management LTD grew its stake in Pure Storage by 1,160.1% during the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock worth $3,671,000 after buying an additional 67,285 shares during the last quarter. Sycomore Asset Management boosted its holdings in Pure Storage by 57.8% in the fourth quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock worth $11,541,000 after acquiring an additional 68,840 shares in the last quarter. Asio Capital LLC acquired a new position in shares of Pure Storage during the fourth quarter valued at about $264,000. Oak Thistle LLC purchased a new position in shares of Pure Storage in the 4th quarter valued at approximately $1,196,000. Finally, Bank of Montreal Can raised its position in shares of Pure Storage by 92.0% in the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock valued at $9,570,000 after purchasing an additional 92,762 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group upped their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. Evercore ISI raised their target price on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. Northland Securities reissued a “market perform” rating and issued a $63.00 price objective (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Finally, StockNews.com downgraded Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $44.22 on Tuesday. The business’s 50 day moving average price is $59.65 and its 200-day moving average price is $57.47. Pure Storage, Inc. has a 1 year low of $43.70 and a 1 year high of $73.67. The firm has a market capitalization of $14.43 billion, a price-to-earnings ratio of 116.38, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

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.