J. Safra Sarasin Holding AG Takes Position in Pure Storage, Inc. (NYSE:PSTG)

J. Safra Sarasin Holding AG purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,715 shares of the technology company’s stock, valued at approximately $3,115,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Pure Storage during the 4th quarter worth about $29,000. Compass Financial Services Inc bought a new stake in shares of Pure Storage during the fourth quarter worth approximately $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Pure Storage in the fourth quarter valued at approximately $31,000. Berbice Capital Management LLC acquired a new stake in Pure Storage during the 4th quarter worth approximately $37,000. Finally, Financial Life Planners bought a new stake in Pure Storage in the 4th quarter valued at $44,000. 83.42% of the stock is owned by institutional investors.

Pure Storage Stock Performance

NYSE PSTG opened at $40.28 on Tuesday. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67. The stock 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’s fifty day moving average price is $50.30 and its two-hundred day moving average price is $56.42.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PSTG shares. StockNews.com downgraded Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $75.00 target price on shares of Pure Storage in a research report on Thursday, February 27th. Piper Sandler dropped their price target on shares of Pure Storage from $76.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Bank of America lowered their price objective on Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.95.

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.