Swiss National Bank Lowers Stake in Pure Storage, Inc. (NYSE:PSTG)

Swiss National Bank decreased its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 879,400 shares of the technology company's stock after selling 37,600 shares during the period. Swiss National Bank owned about 0.27% of Pure Storage worth $54,022,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Pure Storage during the fourth quarter worth about $29,000. Compass Financial Services Inc purchased a new stake in Pure Storage during the 4th quarter valued at about $29,000. Berbice Capital Management LLC purchased a new stake in Pure Storage during the 4th quarter valued at about $37,000. Larson Financial Group LLC boosted its holdings in Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock valued at $32,000 after purchasing an additional 212 shares during the last quarter. Finally, Financial Life Planners acquired a new position in Pure Storage in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

PSTG has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Northland Securities reissued a "market perform" rating and issued a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Barclays increased their price objective on shares of Pure Storage from $56.00 to $61.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 4th. Stifel Nicolaus increased their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. Finally, TD Cowen increased their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. 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. According to MarketBeat.com, Pure Storage currently has an average rating of "Moderate Buy" and a consensus price target of $73.20.

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Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the sale, the insider now directly owns 262,144 shares in the company, valued at $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the sale, the executive now owns 72,927 shares of the company's stock, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

Pure Storage Stock Performance

NYSE:PSTG traded up $1.69 during mid-day trading on Wednesday, hitting $51.56. 2,954,154 shares of the company's stock traded hands, compared to its average volume of 2,810,771. The firm's 50 day simple moving average is $62.32 and its 200 day simple moving average is $57.33. Pure Storage, Inc. has a 1 year low of $44.76 and a 1 year high of $73.67. The company has a market cap of $16.82 billion, a PE ratio of 135.69, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

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.