Pure Storage, Inc. (NYSE:PSTG) Shares Bought by Arizona State Retirement System

Arizona State Retirement System lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,419 shares of the technology company’s stock after acquiring an additional 1,899 shares during the quarter. Arizona State Retirement System’s holdings in Pure Storage were worth $5,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Cherry Creek Investment Advisors Inc. increased its position in shares of Pure Storage by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock worth $4,130,000 after acquiring an additional 189 shares during the period. Larson Financial Group LLC increased its position 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 worth $32,000 after acquiring an additional 212 shares during the period. Venturi Wealth Management LLC increased its position in shares of Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after acquiring an additional 219 shares during the period. Brookstone Capital Management increased its position 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 acquiring an additional 240 shares during the period. Finally, KBC Group NV increased its position 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 worth $2,428,000 after acquiring an additional 246 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PSTG. StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. UBS Group raised their price target on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. Lake Street Capital raised their price target on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a research note on Thursday, February 27th. Finally, Oppenheimer assumed coverage on Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

Pure Storage Trading Up 0.8 %

Shares of PSTG opened at $49.34 on Friday. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The stock’s 50 day moving average is $64.22 and its two-hundred day moving average is $57.82. The firm has a market capitalization of $16.09 billion, a PE ratio of 129.83, a P/E/G ratio of 5.12 and a beta of 1.09.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the sale, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,178 shares of company stock valued at $2,316,746. 6.00% of the stock is owned by corporate insiders.

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.