Royal London Asset Management Ltd. Purchases Shares of 69,992 Pure Storage, Inc. (NYSE:PSTG)

Royal London Asset Management Ltd. purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 69,992 shares of the technology company's stock, valued at approximately $3,516,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Investment Management Corp of Ontario increased its holdings in shares of Pure Storage by 288.3% during the 3rd quarter. Investment Management Corp of Ontario now owns 26,794 shares of the technology company's stock worth $1,346,000 after buying an additional 19,894 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Pure Storage during the 3rd quarter worth $227,000. Erste Asset Management GmbH acquired a new stake in shares of Pure Storage during the 3rd quarter worth $15,857,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Pure Storage by 27.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 182,327 shares of the technology company's stock worth $9,160,000 after buying an additional 39,566 shares during the last quarter. Finally, Twenty Acre Capital LP increased its holdings in shares of Pure Storage by 62.6% during the 3rd quarter. Twenty Acre Capital LP now owns 134,828 shares of the technology company's stock worth $6,774,000 after buying an additional 51,928 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the transaction, the executive now owns 94,446 shares of the company's stock, valued at $4,785,578.82. This trade represents a 8.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the firm's stock in a transaction dated 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 $24,970,000. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 454,542 shares of company stock valued at $25,154,030. Insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSTG. TD Cowen upped their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. William Blair reiterated an "outperform" rating on shares of Pure Storage in a report on Thursday, November 14th. Barclays increased their price target on Pure Storage from $56.00 to $61.00 and gave the company an "equal weight" rating in a report on Wednesday, December 4th. Raymond James lowered their price target on Pure Storage from $73.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, August 29th. Finally, Oppenheimer assumed coverage on Pure Storage in a report on Wednesday, November 13th. They issued an "outperform" rating and a $70.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $72.10.

Pure Storage Stock Down 1.5 %

Shares of PSTG stock traded down $0.97 during trading hours on Monday, hitting $63.95. 2,292,203 shares of the company were exchanged, compared to its average volume of 3,678,603. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77. Pure Storage, Inc. has a one year low of $32.54 and a one year high of $70.41. The business's 50-day simple moving average is $53.04 and its two-hundred day simple moving average is $56.81. The stock has a market capitalization of $20.96 billion, a price-to-earnings ratio of 170.85, a P/E/G ratio of 7.83 and a beta of 1.13.

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.