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

Bank Pictet & Cie Europe AG raised its holdings in Pure Storage, Inc. (NYSE:PSTG) by 23.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,201 shares of the technology company’s stock after purchasing 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 filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSTG. Cherry Creek Investment Advisors Inc. grew its holdings in shares of Pure Storage by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock worth $4,130,000 after acquiring an additional 189 shares during the period. Nvwm LLC grew its holdings in Pure Storage by 23.3% in the third quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after purchasing an additional 194 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after buying an additional 212 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after buying an additional 219 shares during the last quarter. Finally, Brookstone Capital Management grew its stake in Pure Storage by 3.1% in the 4th quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock valued at $486,000 after acquiring an additional 240 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity

In other news, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at $4,207,050.96. The trade was a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. The trade was a 7.08 % 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 in the last ninety days. Company insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

Pure Storage stock opened at $67.78 on Friday. Pure Storage, Inc. has a 1 year low of $38.78 and a 1 year high of $73.67. The firm has a 50 day moving average price of $65.67 and a 200 day moving average price of $57.63. The company has a market cap of $22.11 billion, a price-to-earnings ratio of 178.38, a PEG ratio of 5.26 and a beta of 1.09.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI upped their target price on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. UBS Group increased their target price on Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Northland Securities reissued a “market perform” rating and issued a $63.00 price target (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $72.70.

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.