Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 243,185 shares of the technology company's stock after purchasing an additional 37,906 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of Pure Storage worth $15,620,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new stake in Pure Storage during the fourth quarter worth about $29,000. Compass Financial Services Inc bought a new position in Pure Storage in the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new position in Pure Storage in the fourth quarter valued at approximately $31,000. Berbice Capital Management LLC acquired a new position in Pure Storage during the fourth quarter valued at approximately $37,000. Finally, Financial Life Planners bought a new stake in Pure Storage during the fourth quarter worth $44,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Performance

Shares of NYSE PSTG traded up $0.67 during midday trading on Wednesday, hitting $46.06. 2,404,742 shares of the stock traded hands, compared to its average volume of 3,094,129. The business has a 50 day moving average price of $59.15 and a two-hundred day moving average price of $57.45. Pure Storage, Inc. has a one year low of $43.63 and a one year high of $73.67. The company has a market cap of $15.03 billion, a PE ratio of 121.21, a P/E/G ratio of 5.12 and a beta of 1.08.

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Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Stifel Nicolaus upped their target price on Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. StockNews.com downgraded Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Barclays boosted their price target on Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 4th. Finally, UBS Group raised their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.20.

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.