Deutsche Bank AG Purchases 60,280 Shares of Pure Storage, Inc. (NYSE:PSTG)

Deutsche Bank AG lifted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 605,553 shares of the technology company’s stock after purchasing an additional 60,280 shares during the quarter. Deutsche Bank AG’s holdings in Pure Storage were worth $37,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Pure Storage during the fourth quarter worth about $216,690,000. Artisan Partners Limited Partnership acquired a new position in shares of Pure Storage in the 4th quarter worth approximately $210,906,000. William Blair Investment Management LLC raised its holdings in shares of Pure Storage by 1,725.3% in the 4th quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company’s stock worth $155,124,000 after buying an additional 2,386,864 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Pure Storage by 25.4% during the 4th quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company’s stock worth $413,982,000 after buying an additional 1,366,458 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Pure Storage in the 4th quarter valued at $70,971,000. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PSTG shares. Citigroup dropped their price objective on Pure Storage from $77.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Bank of America cut their price target on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. UBS Group upped their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Thursday, February 27th. Evercore ISI dropped their price objective on shares of Pure Storage from $75.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $75.00 target price on shares of Pure Storage 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.20.

Insider Activity

In related news, CRO Dan Fitzsimons sold 6,977 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the transaction, the executive now directly owns 90,223 shares in the company, valued at $3,691,022.93. This represents a 7.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Up 3.4%

Shares of PSTG stock opened at $55.13 on Wednesday. The firm has a market cap of $17.97 billion, a price-to-earnings ratio of 145.08, a PEG ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $73.67. The stock has a 50-day moving average price of $46.04 and a 200 day moving average price of $55.66.

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.