Resona Asset Management Co. Ltd. Purchases New Position in Pure Storage, Inc. (NYSE:PSTG)

Resona Asset Management Co. Ltd. acquired a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 86,171 shares of the technology company's stock, valued at approximately $5,317,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. World Investment Advisors grew its position in shares of Pure Storage by 1.6% during the fourth quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock worth $592,000 after buying an additional 150 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Pure Storage by 2.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company's stock worth $396,000 after purchasing an additional 157 shares during the period. Parallel Advisors LLC lifted its position in shares of Pure Storage by 1.4% in the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock worth $815,000 after buying an additional 186 shares during the last quarter. Cherry Creek Investment Advisors Inc. boosted its holdings 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 valued at $4,130,000 after buying an additional 189 shares during the period. Finally, Brookstone Capital Management raised its stake in 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. Institutional investors and hedge funds own 83.42% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts have commented on the company. Bank of America decreased their target price on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Morgan Stanley raised their price target on shares of Pure Storage from $62.00 to $72.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 17th. StockNews.com lowered Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Citigroup dropped 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 report on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $72.05.

Pure Storage Trading Up 2.1 %

NYSE PSTG traded up $0.88 on Monday, reaching $41.96. The company's stock had a trading volume of 326,668 shares, compared to its average volume of 3,128,062. The business has a 50-day moving average price of $53.63 and a 200 day moving average price of $56.78. The firm has a market cap of $13.68 billion, a PE ratio of 110.42, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67.

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.