Gulf International Bank UK Ltd Has $1.76 Million Holdings in Pure Storage, Inc. (NYSE:PSTG)

Gulf International Bank UK Ltd lessened its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 28,634 shares of the technology company’s stock after selling 250 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Pure Storage were worth $1,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $29,000. Compass Financial Services Inc acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $29,000. Berbice Capital Management LLC acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $37,000. Larson Financial Group LLC grew its position 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 period. Finally, Financial Life Planners acquired a new stake in shares of Pure Storage during the 4th quarter worth approximately $44,000. 83.42% of the stock is currently owned by institutional investors.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was 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. The trade was a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value 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. Insiders have sold 137,178 shares of company stock worth $8,871,746 in the last ninety days. Company insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSTG. Northland Securities reaffirmed a “market perform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. UBS Group lifted their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday. 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 report on Wednesday, December 4th. Bank of America reduced their price target 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. Finally, Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Pure Storage Price Performance

NYSE PSTG opened at $52.42 on Friday. The stock has a market capitalization of $17.10 billion, a price-to-earnings ratio of 137.95, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67. The business’s fifty day moving average is $65.66 and its 200-day moving average is $58.20.

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.