316,200 Shares in Pure Storage, Inc. (NYSE:PSTG) Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH acquired a new position in Pure Storage, Inc. (NYSE:PSTG) in the 3rd quarter, Holdings Channel reports. The firm acquired 316,200 shares of the technology company’s stock, valued at approximately $15,857,000.

Several other large investors have also bought and sold shares of PSTG. Massmutual Trust Co. FSB ADV grew its position in shares of Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after buying an additional 161 shares during the period. Nvwm LLC grew its holdings in Pure Storage by 23.3% in the third quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock worth $52,000 after purchasing an additional 194 shares during the period. Harbour Investments Inc. increased its stake in shares of Pure Storage by 3.0% during the second quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock valued at $444,000 after purchasing an additional 202 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after purchasing an additional 219 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Lake Street Capital reduced their price objective on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Northland Securities reaffirmed a “market perform” rating and issued a $59.00 price target (down previously from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Piper Sandler cut their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. UBS Group decreased their target price on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Finally, TD Cowen cut their price target on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.95.

Pure Storage Stock Up 0.2 %

Pure Storage stock opened at $52.99 on Monday. The stock has a market cap of $17.36 billion, a PE ratio of 132.48, a price-to-earnings-growth ratio of 7.19 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The stock has a fifty day moving average of $52.06 and a 200 day moving average of $56.80. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the transaction, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. The trade was a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. The trade was a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 354,542 shares of company stock valued at $18,599,030 in the last quarter. 6.00% of the stock is currently owned by insiders.

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.