Pure Storage, Inc. (NYSE:PSTG) Position Boosted by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lifted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 45.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,265 shares of the technology company's stock after acquiring an additional 8,559 shares during the period. Mediolanum International Funds Ltd's holdings in Pure Storage were worth $1,699,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PSTG. Franklin Resources Inc. lifted its holdings in shares of Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock valued at $137,628,000 after purchasing an additional 1,730,123 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company's stock valued at $204,163,000 after buying an additional 747,034 shares during the last quarter. State Street Corp boosted its holdings in shares of Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company's stock valued at $515,596,000 after acquiring an additional 626,427 shares during the period. World Investment Advisors LLC purchased a new position in shares of Pure Storage during the third quarter worth approximately $20,470,000. Finally, FMR LLC grew its position in shares of Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock worth $2,469,487,000 after acquiring an additional 368,643 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Pure Storage Price Performance

NYSE PSTG traded down $0.21 during mid-day trading on Thursday, hitting $69.75. The company's stock had a trading volume of 1,646,999 shares, compared to its average volume of 2,448,431. The firm has a market capitalization of $22.76 billion, a P/E ratio of 183.56, a price-to-earnings-growth ratio of 8.18 and a beta of 1.09. Pure Storage, Inc. has a 52-week low of $38.78 and a 52-week high of $73.67. The stock's fifty day simple moving average is $64.23 and its two-hundred day simple moving average is $57.22.

Insider Activity at Pure Storage

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PSTG shares. Stifel Nicolaus increased their price target on Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Barclays boosted their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 4th. Piper Sandler upgraded shares of Pure Storage from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. William Blair reissued an "outperform" rating on shares of Pure Storage in a research note on Thursday, November 14th. Finally, Wells Fargo & Company lifted their price target on Pure Storage from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $72.70.

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.