Nikko Asset Management Americas Inc. Has $77.82 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Nikko Asset Management Americas Inc. lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,266,738 shares of the technology company’s stock after selling 164,562 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Pure Storage were worth $77,816,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new position in Pure Storage in the fourth quarter valued at $29,000. Compass Financial Services Inc acquired a new position in Pure Storage in the fourth quarter valued at $29,000. Berbice Capital Management LLC acquired a new position in Pure Storage in the fourth quarter valued at $37,000. Larson Financial Group LLC increased its stake in Pure Storage by 49.1% in the third 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 bought a new stake in Pure Storage in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Performance

Shares of NYSE:PSTG opened at $50.99 on Monday. The firm has a fifty day moving average price of $62.86 and a 200 day moving average price of $57.34. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 134.17, a P/E/G ratio of 5.12 and a beta of 1.09.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their price target on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Evercore ISI lifted their price target on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Bank of America decreased their target price on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Citigroup decreased 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, February 27th. One investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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 shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. This represents 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 owned by insiders.

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.