DnB Asset Management AS Decreases Position in Pure Storage, Inc. (NYSE:PSTG)

DnB Asset Management AS decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,611 shares of the technology company’s stock after selling 731 shares during the quarter. DnB Asset Management AS’s holdings in Pure Storage were worth $3,170,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sugar Maple Asset Management LLC purchased a new position in shares of Pure Storage in the fourth quarter worth $29,000. Compass Financial Services Inc bought a new position in Pure Storage during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new stake in Pure Storage in the 4th quarter worth approximately $31,000. Berbice Capital Management LLC purchased a new stake in Pure Storage during the 4th quarter valued at $37,000. Finally, Financial Life Planners bought a new position in shares of Pure Storage during the 4th quarter valued at $44,000. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSTG. Morgan Stanley lifted their price objective on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Stifel Nicolaus boosted their price target on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. 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. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price objective on shares of Pure Storage in a report on Thursday, February 27th. Finally, Northland Securities reaffirmed a “market perform” rating and set a $63.00 target price (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. One 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. According to 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 Performance

PSTG stock opened at $44.22 on Tuesday. The company has a market capitalization of $14.43 billion, a PE ratio of 116.38, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The company’s fifty day moving average price is $59.65 and its 200-day moving average price is $57.47. Pure Storage, Inc. has a one year low of $43.43 and a one year high of $73.67.

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.