Harvest Fund Management Co. Ltd Purchases 24,070 Shares of Pure Storage, Inc. (NYSE:PSTG)

Harvest Fund Management Co. Ltd lifted its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 811.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,037 shares of the technology company's stock after acquiring an additional 24,070 shares during the period. Harvest Fund Management Co. Ltd's holdings in Pure Storage were worth $1,661,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in Pure Storage by 6.9% in the third quarter. Victory Capital Management Inc. now owns 230,393 shares of the technology company's stock worth $11,575,000 after purchasing an additional 14,901 shares during the period. OneDigital Investment Advisors LLC raised its stake in Pure Storage by 2.4% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 13,365 shares of the technology company's stock worth $671,000 after buying an additional 316 shares during the period. CIBC Asset Management Inc lifted its holdings in Pure Storage by 3.5% during the third quarter. CIBC Asset Management Inc now owns 9,179 shares of the technology company's stock worth $461,000 after acquiring an additional 312 shares in the last quarter. Swiss National Bank grew its stake in Pure Storage by 0.3% in the third quarter. Swiss National Bank now owns 917,000 shares of the technology company's stock valued at $46,070,000 after acquiring an additional 3,100 shares during the period. Finally, Quest Partners LLC acquired a new position in Pure Storage in the third quarter valued at about $613,000. Institutional investors own 83.42% of the company's stock.

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Pure Storage Trading Up 3.4 %

Shares of NYSE:PSTG traded up $1.74 during trading on Monday, reaching $52.89. 2,107,339 shares of the stock were exchanged, compared to its average volume of 3,018,163. The firm has a market cap of $17.25 billion, a PE ratio of 139.19, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $44.76 and a 12 month high of $73.67. The stock has a 50-day moving average price of $61.53 and a 200-day moving average price of $57.38.

Insider Buying and Selling at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the sale, the insider now owns 262,144 shares of the company's stock, valued at $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the transaction, the executive now directly owns 72,927 shares of the company's stock, valued at $4,675,349.97. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PSTG shares. Evercore ISI lifted their price objective on Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Lake Street Capital increased their price objective on shares of Pure Storage from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Morgan Stanley boosted their price objective on shares of Pure Storage from $62.00 to $72.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. Citigroup lowered their target price on Pure Storage from $80.00 to $77.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Northland Securities reaffirmed a "market perform" rating and set a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $73.20.

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.