50,715 Shares in Pure Storage, Inc. (NYSE:PSTG) Bought by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG acquired a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,715 shares of the technology company's stock, valued at approximately $3,115,000.

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

Insider Activity at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,977 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the completion of the sale, the executive now directly owns 90,223 shares of the company's stock, valued at approximately $3,691,022.93. This trade represents a 7.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, February 27th. Citigroup cut their price target on shares of Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a report on Monday, April 14th. Piper Sandler decreased their price objective on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Bank of America cut their target price on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, StockNews.com lowered Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Pure Storage presently has a consensus rating of "Moderate Buy" and an average target price of $70.95.

Pure Storage Trading Up 1.3 %

PSTG stock traded up $0.58 during midday trading on Friday, hitting $45.71. The company had a trading volume of 1,806,817 shares, compared to its average volume of 3,118,808. The stock has a market cap of $14.90 billion, a price-to-earnings ratio of 120.29, a PEG ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67. The stock's 50 day moving average price is $48.34 and its 200 day moving average price is $56.15.

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.