Skandinaviska Enskilda Banken AB publ Has $16.16 Million Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Skandinaviska Enskilda Banken AB publ increased its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 38.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 258,580 shares of the technology company's stock after purchasing an additional 71,300 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.08% of Pure Storage worth $16,156,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PSTG. Sugar Maple Asset Management LLC acquired a new stake in Pure Storage during the 4th quarter worth approximately $29,000. Compass Financial Services Inc acquired a new position in Pure Storage in the 4th quarter valued at $29,000. Larson Financial Group LLC raised 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 acquiring an additional 212 shares in the last quarter. Berbice Capital Management LLC acquired a new position in Pure Storage in the 4th quarter valued at $37,000. Finally, 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 valued at $38,000 after acquiring an additional 219 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

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Analysts Set New Price Targets

Several brokerages have weighed in on PSTG. Bank of America dropped their price objective on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Wells Fargo & Company lifted their price objective on Pure Storage from $75.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Northland Securities reaffirmed a "market perform" rating and issued a $63.00 price objective (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Finally, Morgan Stanley lifted their price objective on Pure Storage from $62.00 to $72.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.20.

Pure Storage Price Performance

PSTG stock traded down $0.84 during midday trading on Tuesday, reaching $49.86. 2,380,722 shares of the stock were exchanged, compared to its average volume of 2,807,982. The stock has a market capitalization of $16.26 billion, a PE ratio of 131.20, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 52 week low of $44.76 and a 52 week high of $73.67. The company has a fifty day moving average price of $62.58 and a 200 day moving average price of $57.34.

About Pure Storage

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.