SBI Securities Co. Ltd. Makes New Investment in Pure Storage, Inc. (NYSE:PSTG)

SBI Securities Co. Ltd. purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,990 shares of the technology company’s stock, valued at approximately $184,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Citigroup Inc. grew its holdings in Pure Storage by 11.3% during the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after acquiring an additional 14,659 shares in the last quarter. TT International Asset Management LTD lifted its position in shares of Pure Storage by 1,160.1% in the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock worth $3,671,000 after purchasing an additional 67,285 shares during the period. FMR LLC boosted its stake in shares of Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. Sycomore Asset Management increased its holdings in Pure Storage by 57.8% during the fourth quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock valued at $11,541,000 after buying an additional 68,840 shares during the period. Finally, Asio Capital LLC bought a new position in Pure Storage in the fourth quarter worth approximately $264,000. 83.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PSTG. StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. UBS Group raised their price objective on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, February 27th. Wells Fargo & Company boosted their target price on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and increased their price target for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.20.

Insider Activity at Pure Storage

In other news, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the sale, the executive now directly owns 72,927 shares in the company, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the transaction, the chief accounting officer now owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,178 shares of company stock worth $2,316,746. 6.00% of the stock is owned by corporate insiders.

Pure Storage Stock Down 6.4 %

Shares of PSTG stock opened at $48.88 on Friday. Pure Storage, Inc. has a 52-week low of $44.76 and a 52-week high of $73.67. The stock has a market cap of $15.95 billion, a PE ratio of 128.65, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The business has a 50-day simple moving average of $64.50 and a 200-day simple moving average of $57.90.

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.