Mediolanum International Funds Ltd Buys 8,559 Shares of Pure Storage, Inc. (NYSE:PSTG)

Mediolanum International Funds Ltd increased its holdings in Pure Storage, Inc. (NYSE:PSTG) by 45.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 27,265 shares of the technology company’s stock after purchasing an additional 8,559 shares during the period. Mediolanum International Funds Ltd’s holdings in Pure Storage were worth $1,699,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. FMR LLC grew its stake in shares of Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after purchasing an additional 368,643 shares during the last quarter. State Street Corp grew its stake in shares of Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after purchasing an additional 626,427 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of Pure Storage by 3.2% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock worth $285,575,000 after purchasing an additional 177,559 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Pure Storage by 4.3% in the third quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock worth $269,798,000 after purchasing an additional 219,971 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after purchasing an additional 747,034 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

NYSE:PSTG opened at $67.89 on Monday. The firm has a 50-day moving average of $63.36 and a 200-day moving average of $57.04. The company has a market cap of $22.15 billion, a PE ratio of 178.66, a PEG ratio of 8.16 and a beta of 1.09. Pure Storage, Inc. has a one year low of $38.78 and a one year high of $73.67.

Insider Transactions at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the sale, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $6,555,000.00. Following the completion of the sale, the insider now directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,178 shares of company stock valued at $8,871,746 over the last three months. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Northland Securities reissued a “market perform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Guggenheim boosted their target price on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays boosted their target price on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Morgan Stanley boosted their target price on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $56.00 to $76.00 in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.70.

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.