State Street Corp Grows Position in Pure Storage, Inc. (NYSE:PSTG)

State Street Corp raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,262,666 shares of the technology company's stock after buying an additional 626,427 shares during the period. State Street Corp owned about 3.13% of Pure Storage worth $515,596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Nvwm LLC increased its holdings in Pure Storage by 23.3% during the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company's stock valued at $52,000 after purchasing an additional 194 shares during the period. Harbour Investments Inc. lifted its stake in Pure Storage by 3.0% in the second quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company's stock worth $444,000 after acquiring an additional 202 shares during the period. Larson Financial Group LLC boosted its holdings in 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. Venturi Wealth Management LLC raised its holdings in Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock worth $38,000 after purchasing an additional 219 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its position in shares of Pure Storage by 3.2% in the 2nd quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company's stock worth $462,000 after purchasing an additional 223 shares during the period. 83.42% of the stock is owned by institutional investors.

Pure Storage Stock Performance

Shares of NYSE:PSTG traded down $1.13 during trading on Monday, hitting $63.79. The company's stock had a trading volume of 3,173,906 shares, compared to its average volume of 3,683,011. The company has a 50-day moving average of $53.04 and a 200-day moving average of $56.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74. The firm has a market cap of $20.90 billion, a price-to-earnings ratio of 167.93, a P/E/G ratio of 7.83 and a beta of 1.13. Pure Storage, Inc. has a 12 month low of $32.54 and a 12 month high of $70.41.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the completion of the transaction, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. The trade was a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the completion of the transaction, the executive now owns 94,446 shares of the company's stock, valued at approximately $4,785,578.82. The trade was a 8.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 454,542 shares of company stock worth $25,154,030 in the last 90 days. 6.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSTG. Guggenheim increased their price target on shares of Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. William Blair restated an "outperform" rating on shares of Pure Storage in a research note on Thursday, November 14th. Stifel Nicolaus upped their price target on Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their price objective on Pure Storage from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Finally, Raymond James reduced their target price on shares of Pure Storage from $73.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Pure Storage presently has an average rating of "Moderate Buy" and an average target price of $72.10.

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.