Banque Pictet & Cie SA Grows Stake in Pure Storage, Inc. (NYSE:PSTG)

Banque Pictet & Cie SA raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 159,796 shares of the technology company's stock after purchasing an additional 18,028 shares during the period. Banque Pictet & Cie SA's holdings in Pure Storage were worth $9,816,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage during the fourth quarter valued at $29,000. Compass Financial Services Inc purchased a new position in Pure Storage in the 4th quarter worth about $29,000. Berbice Capital Management LLC bought a new position in Pure Storage during the 4th quarter valued at about $37,000. Larson Financial Group LLC boosted its holdings in shares of Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock valued at $32,000 after acquiring an additional 212 shares during the last quarter. Finally, Financial Life Planners bought a new stake in shares of Pure Storage in the fourth quarter worth approximately $44,000. Institutional investors own 83.42% of the company's stock.

Analysts Set New Price Targets

PSTG has been the topic of a number of research analyst reports. Oppenheimer assumed coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They set an "outperform" rating and a $70.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Pure Storage from $60.00 to $65.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. Barclays lifted their price objective on Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 4th. UBS Group upped their price objective on Pure Storage from $45.00 to $47.00 and gave the company a "sell" rating in a research report on Wednesday, December 4th. Finally, Lake Street Capital raised their target price on Pure Storage from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $72.70.

Pure Storage Stock Up 1.6 %

PSTG stock traded up $1.05 during trading on Tuesday, reaching $68.85. The company's stock had a trading volume of 1,567,789 shares, compared to its average volume of 2,330,209. The company's fifty day moving average is $65.81 and its 200-day moving average is $57.76. The company has a market capitalization of $22.46 billion, a P/E ratio of 181.20, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09. Pure Storage, Inc. has a 1 year low of $38.78 and a 1 year high of $73.67.

Insider Activity at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the sale, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,178 shares of company stock valued at $8,871,746. Corporate insiders own 6.00% of the company's stock.

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.