Bank Pictet & Cie Europe AG Raises Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Bank Pictet & Cie Europe AG boosted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 23.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,201 shares of the technology company’s stock after buying an additional 1,740 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Pure Storage were worth $565,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PSTG. Creative Planning raised its holdings in shares of Pure Storage by 39.7% in the 3rd quarter. Creative Planning now owns 27,399 shares of the technology company’s stock valued at $1,377,000 after buying an additional 7,780 shares during the period. nVerses Capital LLC purchased a new stake in Pure Storage during the third quarter worth about $50,000. Bleakley Financial Group LLC lifted its position in shares of Pure Storage by 10.5% during the third quarter. Bleakley Financial Group LLC now owns 5,588 shares of the technology company’s stock worth $281,000 after purchasing an additional 530 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Pure Storage by 2.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,547 shares of the technology company’s stock valued at $2,539,000 after purchasing an additional 1,251 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Pure Storage by 462.2% in the third quarter. Blue Trust Inc. now owns 4,166 shares of the technology company’s stock valued at $209,000 after purchasing an additional 3,425 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Pure Storage news, CAO Mona Chu sold 8,311 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the sale, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. This trade represents a 10.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,178 shares of company stock valued at $8,871,746. 6.00% of the stock is currently owned by company insiders.

Pure Storage Stock Up 0.4 %

Shares of NYSE PSTG opened at $67.78 on Friday. The stock has a market cap of $22.11 billion, a PE ratio of 178.38, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09. Pure Storage, Inc. has a 52-week low of $38.78 and a 52-week high of $73.67. The business has a 50-day moving average price of $65.67 and a 200 day moving average price of $57.63.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of research reports. UBS Group increased their target price on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” 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. JPMorgan Chase & Co. boosted their target price on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley increased their price target on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company boosted their price objective on Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.70.

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.