Royal London Asset Management Ltd. Makes New $3.52 Million Investment in Pure Storage, Inc. (NYSE:PSTG)

Royal London Asset Management Ltd. purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 69,992 shares of the technology company’s stock, valued at approximately $3,516,000.

Other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers grew its position in Pure Storage by 284.9% in the first quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock valued at $2,901,000 after acquiring an additional 41,305 shares during the last quarter. CWM LLC boosted its stake in shares of Pure Storage by 37.0% in the 2nd quarter. CWM LLC now owns 8,252 shares of the technology company’s stock valued at $530,000 after purchasing an additional 2,228 shares in the last quarter. Friedenthal Financial bought a new stake in shares of Pure Storage during the 2nd quarter valued at approximately $712,000. Bank Pictet & Cie Asia Ltd. acquired a new position in Pure Storage during the 2nd quarter worth approximately $336,000. Finally, Maia Wealth LLC bought a new position in Pure Storage in the 2nd quarter valued at approximately $604,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

PSTG has been the subject of several research analyst reports. Northland Securities reiterated a “market perform” rating and set a $63.00 price target (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Susquehanna reaffirmed a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. Wedbush reiterated an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. Wells Fargo & Company boosted their price target on Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Raymond James dropped their price objective on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.10.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the transaction, the executive now directly owns 94,446 shares in the company, valued at $4,785,578.82. This trade represents a 8.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now owns 500,000 shares of the company’s stock, valued at $24,970,000. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 454,542 shares of company stock valued at $25,154,030 over the last ninety days. 6.00% of the stock is owned by corporate insiders.

Pure Storage Price Performance

Pure Storage stock opened at $64.92 on Monday. The stock has a market capitalization of $21.27 billion, a price-to-earnings ratio of 170.84, a PEG ratio of 8.87 and a beta of 1.13. Pure Storage, Inc. has a 52-week low of $31.90 and a 52-week high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.77. The stock’s 50 day moving average price is $53.04 and its two-hundred day moving average price is $56.81.

About Pure Storage

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.