Union Bancaire Privee UBP SA Takes Position in Pure Storage, Inc. (NYSE:PSTG)

Union Bancaire Privee UBP SA purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, Holdings Channel.com reports. The firm purchased 19,678 shares of the technology company’s stock, valued at approximately $1,253,000.

A number of other hedge funds have also recently made changes to their positions in the company. Peregrine Asset Advisers Inc. purchased a new position in shares of Pure Storage during the 4th quarter valued at $2,537,000. Crumly & Associates Inc. purchased a new position in Pure Storage in the fourth quarter worth $204,000. Arcadia Investment Management Corp MI grew its position in Pure Storage by 18.7% in the fourth quarter. Arcadia Investment Management Corp MI now owns 54,280 shares of the technology company’s stock worth $3,334,000 after acquiring an additional 8,540 shares in the last quarter. Global Retirement Partners LLC grew its position in Pure Storage by 48.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,981 shares of the technology company’s stock worth $122,000 after acquiring an additional 649 shares in the last quarter. Finally, Kestra Investment Management LLC grew its position in Pure Storage by 58.4% in the fourth quarter. Kestra Investment Management LLC now owns 7,148 shares of the technology company’s stock worth $439,000 after acquiring an additional 2,636 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the transaction, the insider now owns 7,316,722 shares in the company, valued at $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the transaction, the chief accounting officer now owns 67,681 shares in the company, valued at $4,207,050.96. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,178 shares of company stock valued at $8,871,746. Insiders own 6.00% of the company’s stock.

Pure Storage Trading Down 3.9 %

Shares of NYSE:PSTG opened at $65.14 on Monday. The company has a market cap of $21.25 billion, a price-to-earnings ratio of 171.43, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The company has a 50-day moving average price of $66.23 and a 200-day moving average price of $58.16. Pure Storage, Inc. has a 12 month low of $40.32 and a 12 month high of $73.67.

Wall Street Analyst Weigh In

PSTG has been the subject of several research reports. Northland Securities reiterated a “market perform” rating and issued a $63.00 target price (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Evercore ISI upped their target price on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. UBS Group upped their target price on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Citigroup boosted their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Morgan Stanley boosted their price target on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.95.

Pure Storage 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.