EFG Asset Management Americas Corp. Grows Stock Position in Pure Storage, Inc. (NYSE:PSTG)

EFG Asset Management Americas Corp. raised its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 14.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 30,305 shares of the technology company’s stock after buying an additional 3,891 shares during the period. EFG Asset Management Americas Corp.’s holdings in Pure Storage were worth $1,862,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new position in shares of Pure Storage during the 4th quarter valued at about $29,000. Compass Financial Services Inc purchased a new position in shares of Pure Storage during the 4th quarter valued at about $29,000. Larson Financial Group LLC increased its stake in shares of 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. Berbice Capital Management LLC purchased a new position in shares of Pure Storage in the 4th quarter valued at about $37,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after purchasing an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PSTG shares. Wells Fargo & Company lifted their price target on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup cut their price target on Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a research note on Thursday, February 27th. Finally, Evercore ISI lifted their price target on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $73.20.

Pure Storage Stock Performance

PSTG opened at $48.88 on Friday. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67. The stock 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. The business’s 50 day moving average price is $64.50 and its 200 day moving average price is $57.90.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction that occurred 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 sale, the executive now owns 72,927 shares of the company’s stock, valued at $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction that occurred on 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 directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,178 shares of company stock worth $2,316,746. Insiders own 6.00% of the company’s stock.

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.