Gulf International Bank UK Ltd Has $1.76 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Gulf International Bank UK Ltd reduced its stake in Pure Storage, Inc. (NYSE:PSTG) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,634 shares of the technology company’s stock after selling 250 shares during the period. Gulf International Bank UK Ltd’s holdings in Pure Storage were worth $1,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. boosted its position in shares of Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock valued at $137,628,000 after acquiring an additional 1,730,123 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Pure Storage by 22.5% in 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 acquiring an additional 747,034 shares during the period. State Street Corp boosted its position 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 valued at $515,596,000 after acquiring an additional 626,427 shares during the period. World Investment Advisors LLC bought a new stake in shares of Pure Storage in the third quarter valued at about $20,470,000. Finally, FMR LLC boosted its position in shares of Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after acquiring an additional 368,643 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSTG has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley upped their price objective on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Stifel Nicolaus upped their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Northland Securities reaffirmed a “market perform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Finally, UBS Group upped their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and a consensus price target of $73.20.

Pure Storage Price Performance

Pure Storage stock opened at $52.42 on Friday. The business has a 50 day moving average of $65.66 and a 200-day moving average of $58.20. Pure Storage, Inc. has a 1 year low of $44.76 and a 1 year high of $73.67. The company has a market capitalization of $17.10 billion, a P/E ratio of 137.95, a P/E/G ratio of 5.12 and a beta of 1.09.

Insider Activity

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 stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the sale, the insider now directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock valued at $8,871,746 over the last quarter. 6.00% of the stock is owned by company insiders.

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.