Amalgamated Bank Has $9.31 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Amalgamated Bank raised its position in Pure Storage, Inc. (NYSE:PSTG) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,534 shares of the technology company’s stock after buying an additional 1,065 shares during the period. Amalgamated Bank’s holdings in Pure Storage were worth $9,309,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after buying an additional 368,643 shares in the last quarter. State Street Corp grew its holdings in Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after acquiring an additional 626,427 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in Pure Storage by 3.2% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock valued at $285,575,000 after acquiring an additional 177,559 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Pure Storage by 4.3% in the third quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock worth $269,798,000 after acquiring an additional 219,971 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Pure Storage by 22.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after purchasing an additional 747,034 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen raised their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup lifted their target price on Pure Storage from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Barclays upped their price target on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. Finally, UBS Group upped their target price on shares of Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.95.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $61.35 on Wednesday. The company has a market capitalization of $20.02 billion, a P/E ratio of 161.46, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The business has a 50-day moving average of $66.09 and a two-hundred day moving average of $58.25. Pure Storage, Inc. has a 1 year low of $40.79 and a 1 year high of $73.67.

Insider Activity at Pure Storage

In related news, CAO Mona Chu sold 8,311 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction dated 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 transaction, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is owned by company insiders.

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.