Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its holdings in Pure Storage, Inc. (NYSE:PSTG) by 103.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 142,560 shares of the technology company’s stock after buying an additional 72,568 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Pure Storage were worth $8,757,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PSTG. Parallel Advisors LLC raised its position in shares of Pure Storage by 1.4% in the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock valued at $815,000 after purchasing an additional 186 shares during the last quarter. Cherry Creek Investment Advisors Inc. increased its stake in Pure Storage by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock valued at $4,130,000 after purchasing an additional 189 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after buying an additional 212 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Pure Storage by 3.1% during the fourth quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock worth $486,000 after buying an additional 240 shares during the period. Finally, KBC Group NV grew its holdings in shares of Pure Storage by 0.6% during the fourth quarter. KBC Group NV now owns 39,523 shares of the technology company’s stock valued at $2,428,000 after buying an additional 246 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analysts Set New Price Targets

PSTG has been the subject of a number of research analyst reports. StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Bank of America decreased their target price on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Northland Securities reiterated a “market perform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Citigroup reduced their price target on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Evercore ISI upped their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and an average price target of $73.20.

Insider Activity at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the firm’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 transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares in the company, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Pure Storage Price Performance

Pure Storage stock opened at $51.11 on Monday. The stock has a market capitalization of $16.67 billion, a PE ratio of 134.51, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The business has a 50 day simple moving average of $61.53 and a 200-day simple moving average of $57.38. Pure Storage, Inc. has a 12 month low of $44.76 and a 12 month high of $73.67.

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.