SBI Securities Co. Ltd. Invests $184,000 in Pure Storage, Inc. (NYSE:PSTG)

SBI Securities Co. Ltd. purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,990 shares of the technology company’s stock, valued at approximately $184,000.

Other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its position in shares of Pure Storage by 27.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,676 shares of the technology company’s stock valued at $103,000 after acquiring an additional 366 shares in the last quarter. Bailard Inc. lifted its holdings in Pure Storage by 4.0% in the 4th quarter. Bailard Inc. now owns 130,077 shares of the technology company’s stock valued at $7,991,000 after purchasing an additional 4,971 shares in the last quarter. Norden Group LLC lifted its holdings in Pure Storage by 12.7% in the 4th quarter. Norden Group LLC now owns 17,012 shares of the technology company’s stock valued at $1,045,000 after purchasing an additional 1,919 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Pure Storage by 180.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 740 shares of the technology company’s stock worth $46,000 after purchasing an additional 476 shares during the last quarter. Finally, Metis Global Partners LLC purchased a new stake in shares of Pure Storage during the fourth quarter worth $258,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the transaction, the executive now directly owns 72,927 shares in the company, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of the company’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 in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,178 shares of company stock worth $2,316,746 over the last three months. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup lowered their price target on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. UBS Group boosted their target price on Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a report on Thursday, February 27th. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Morgan Stanley boosted their price objective on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Northland Securities restated a “market perform” rating and issued a $63.00 target price (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Trading Down 6.4 %

PSTG stock opened at $48.88 on Friday. The business’s fifty day moving average price is $64.50 and its 200 day moving average price is $57.90. Pure Storage, Inc. has a 12-month low of $44.76 and a 12-month high of $73.67. The company has a market capitalization of $15.95 billion, a PE ratio of 128.65, a P/E/G ratio of 5.12 and a beta of 1.09.

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.