Whittier Trust Co. Acquires 73,188 Shares of Pure Storage, Inc. (NYSE:PSTG)

Whittier Trust Co. boosted its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 123.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,618 shares of the technology company's stock after buying an additional 73,188 shares during the quarter. Whittier Trust Co.'s holdings in Pure Storage were worth $8,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. William Blair Investment Management LLC lifted its stake in shares of Pure Storage by 1,725.3% in the 4th quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company's stock valued at $155,124,000 after acquiring an additional 2,386,864 shares during the last quarter. Franklin Resources Inc. increased its stake in Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock worth $137,628,000 after purchasing an additional 1,730,123 shares during the period. Raymond James Financial Inc. bought a new stake in Pure Storage in the fourth quarter valued at approximately $70,971,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Pure Storage by 22.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company's stock valued at $204,163,000 after purchasing an additional 747,034 shares during the period. Finally, State Street Corp grew its holdings in shares of Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company's stock worth $515,596,000 after purchasing an additional 626,427 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

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Insider Transactions at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the company's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the transaction, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PSTG shares. UBS Group upped their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a report on Thursday, February 27th. Evercore ISI boosted their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Needham & Company LLC reiterated a "buy" rating and set a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. TD Cowen boosted their price target on Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, Piper Sandler upgraded Pure Storage from a "neutral" rating to an "overweight" rating and upped their target price for the company from $56.00 to $76.00 in a report on Wednesday, December 4th. One 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.20.

Pure Storage Stock Up 0.2 %

Shares of PSTG stock traded up $0.08 during trading hours on Tuesday, hitting $52.96. 1,768,388 shares of the company's stock traded hands, compared to its average volume of 3,018,067. The stock's fifty day simple moving average is $61.33 and its two-hundred day simple moving average is $57.42. Pure Storage, Inc. has a 12-month low of $44.76 and a 12-month high of $73.67. The stock has a market cap of $17.28 billion, a price-to-earnings ratio of 139.37, a PEG ratio of 5.12 and a beta of 1.09.

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.