Achmea Investment Management B.V. Takes $1.97 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Achmea Investment Management B.V. bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 32,119 shares of the technology company’s stock, valued at approximately $1,973,000.

Other hedge funds have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new position in Pure Storage during the 4th quarter worth about $29,000. Compass Financial Services Inc acquired a new position in Pure Storage during the 4th quarter worth about $29,000. Berbice Capital Management LLC acquired a new position in Pure Storage during the 4th quarter worth about $37,000. Larson Financial Group LLC raised its position in Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares in the last quarter. Finally, Financial Life Planners acquired a new stake in Pure Storage in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Buying and Selling

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the sale, the executive now directly owns 72,927 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the 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 sale, the insider now directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.

Pure Storage Stock Up 5.0 %

NYSE:PSTG opened at $50.99 on Friday. The stock’s 50 day moving average price is $62.86 and its 200 day moving average price is $57.38. The company has a market capitalization of $16.63 billion, a PE ratio of 134.17, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 52-week low of $44.76 and a 52-week high of $73.67.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Northland Securities reaffirmed a “market perform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report 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. Wells Fargo & Company increased their price target on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and a consensus price target of $73.20.

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.