Pure Storage, Inc. (NYSE:PSTG) Shares Bought by TT International Asset Management LTD

TT International Asset Management LTD boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 1,160.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,085 shares of the technology company's stock after purchasing an additional 67,285 shares during the period. Pure Storage comprises 0.5% of TT International Asset Management LTD's holdings, making the stock its 29th biggest holding. TT International Asset Management LTD's holdings in Pure Storage were worth $3,671,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in shares of Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company's stock worth $28,000 after acquiring an additional 306 shares during the period. ORG Wealth Partners LLC purchased a new stake in Pure Storage during the third quarter worth $31,000. FSC Wealth Advisors LLC purchased a new stake in Pure Storage during the second quarter worth $33,000. ORG Partners LLC purchased a new stake in Pure Storage during the second quarter worth $35,000. Finally, Venturi Wealth Management LLC boosted its holdings in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock worth $38,000 after buying an additional 219 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on PSTG. JPMorgan Chase & Co. raised their price target on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price target on shares of Pure Storage from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Needham & Company LLC lifted their price target on shares of Pure Storage from $62.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Piper Sandler upgraded shares of Pure Storage from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. Finally, TD Cowen lifted their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of "Moderate Buy" and an average target price of $72.10.

Pure Storage Trading Up 3.1 %

NYSE PSTG traded up $1.87 during mid-day trading on Wednesday, hitting $62.16. The company's stock had a trading volume of 1,173,245 shares, compared to its average volume of 3,671,332. Pure Storage, Inc. has a 52-week low of $32.54 and a 52-week high of $70.41. The stock's fifty day simple moving average is $53.31 and its two-hundred day simple moving average is $56.84. 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 capitalization of $20.37 billion, a P/E ratio of 158.69, a price-to-earnings-growth ratio of 7.83 and a beta of 1.13.

Insider Activity at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the sale, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the sale, the chief accounting officer now owns 96,639 shares of the company's stock, valued at approximately $4,862,874.48. This trade represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 454,542 shares of company stock worth $25,154,030. Company insiders own 6.00% of the company's stock.

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.