BI Asset Management Fondsmaeglerselskab A S Has $2.05 Million Position in Pure Storage, Inc. (NYSE:PSTG)

BI Asset Management Fondsmaeglerselskab A S lowered its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 8.2% during the fourth quarter, HoldingsChannel reports. The fund owned 33,395 shares of the technology company’s stock after selling 2,979 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Pure Storage were worth $2,051,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PSTG. Sycomore Asset Management increased its stake in shares of Pure Storage by 57.8% in the fourth quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock valued at $11,541,000 after buying an additional 68,840 shares during the period. Asio Capital LLC bought a new stake in shares of Pure Storage in the fourth quarter worth $264,000. Oak Thistle LLC bought a new position in Pure Storage during the 4th quarter worth $1,196,000. Franklin Resources Inc. lifted its holdings in Pure Storage by 210.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after buying an additional 1,730,123 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Pure Storage by 23.5% in the fourth quarter. Victory Capital Management Inc. now owns 284,649 shares of the technology company’s stock valued at $17,486,000 after buying an additional 54,256 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Citigroup reduced their target price on Pure Storage from $77.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Piper Sandler lowered their target price on shares of Pure Storage from $76.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Bank of America decreased their price target on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. One equities research 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, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $70.95.

Pure Storage Price Performance

NYSE:PSTG opened at $40.28 on Tuesday. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The company has a market cap of $13.13 billion, a PE ratio of 106.00, a PEG ratio of 5.12 and a beta of 1.08. The firm has a 50-day moving average of $50.30 and a 200-day moving average of $56.42.

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.