Pure Storage, Inc. (NYSE:PSTG) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 103.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 142,560 shares of the technology company's stock after purchasing an additional 72,568 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Pure Storage were worth $8,757,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in shares of Pure Storage by 1.4% during the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock worth $815,000 after purchasing an additional 186 shares during the period. Cherry Creek Investment Advisors Inc. lifted its stake in shares of Pure Storage by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company's stock worth $4,130,000 after acquiring an additional 189 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Pure Storage by 49.1% in the third 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 in the last quarter. Brookstone Capital Management increased its stake in shares of Pure Storage by 3.1% during the fourth quarter. Brookstone Capital Management now owns 7,917 shares of the technology company's stock worth $486,000 after acquiring an additional 240 shares during the period. Finally, KBC Group NV raised its holdings in Pure Storage by 0.6% during the fourth quarter. KBC Group NV now owns 39,523 shares of the technology company's stock worth $2,428,000 after purchasing an additional 246 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

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Analysts Set New Price Targets

PSTG has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on Pure Storage from $60.00 to $65.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on Pure Storage from $60.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Bank of America reduced their target price on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Finally, Citigroup lowered their price target on shares of Pure Storage from $80.00 to $77.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $73.20.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the business's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the sale, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.00% of the company's stock.

Pure Storage Stock Performance

NYSE PSTG traded down $0.48 during mid-day trading on Tuesday, reaching $52.40. 797,675 shares of the stock were exchanged, compared to its average volume of 3,018,067. The stock has a market capitalization of $17.09 billion, a PE ratio of 138.12, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 1-year low of $44.76 and a 1-year high of $73.67. The business's fifty day simple moving average is $61.33 and its 200 day simple moving average is $57.42.

Pure Storage Company 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.