Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Swiss National Bank

Swiss National Bank lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 879,400 shares of the technology company’s stock after selling 37,600 shares during the period. Swiss National Bank’s holdings in Pure Storage were worth $54,022,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new position in shares of Pure Storage during the 4th quarter worth $29,000. Compass Financial Services Inc purchased a new stake in Pure Storage during the fourth quarter worth about $29,000. Berbice Capital Management LLC acquired a new position in Pure Storage during the fourth quarter worth about $37,000. Larson Financial Group LLC increased its holdings in 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 buying an additional 212 shares in the last quarter. Finally, Financial Life Planners acquired a new stake in shares of Pure Storage during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. UBS Group increased their price objective 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. Stifel Nicolaus upped their price target on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Barclays raised their price objective on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Stock Up 5.0 %

PSTG stock opened at $50.99 on Friday. The company has a market cap of $16.63 billion, a price-to-earnings ratio of 134.17, a PEG ratio of 5.12 and a beta of 1.09. The business has a fifty day simple moving average of $62.86 and a 200-day simple moving average of $57.36. Pure Storage, Inc. has a 52 week low of $44.76 and a 52 week high of $73.67.

Insiders Place Their Bets

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the sale, the insider now directly owns 262,144 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the transaction, the executive now directly owns 72,927 shares in the company, valued at approximately $4,675,349.97. This represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

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.