First Hawaiian Bank Acquires 2,000 Shares of Pure Storage, Inc. (NYSE:PSTG)

First Hawaiian Bank increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,050 shares of the technology company’s stock after buying an additional 2,000 shares during the period. First Hawaiian Bank’s holdings in Pure Storage were worth $1,846,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PSTG. Nvwm LLC lifted its holdings in shares of Pure Storage by 23.3% during the third quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock worth $52,000 after purchasing an additional 194 shares during the period. Larson Financial Group LLC raised its position in 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 purchasing an additional 212 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after buying an additional 219 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Pure Storage by 3.6% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 7,461 shares of the technology company’s stock valued at $375,000 after buying an additional 259 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Pure Storage by 26.0% in the third quarter. UMB Bank n.a. now owns 1,485 shares of the technology company’s stock valued at $75,000 after buying an additional 306 shares during the period. 83.42% of the stock is owned by institutional investors.

Pure Storage Trading Up 1.9 %

PSTG opened at $64.12 on Thursday. Pure Storage, Inc. has a fifty-two week low of $35.35 and a fifty-two week high of $70.41. The firm has a market capitalization of $20.92 billion, a PE ratio of 168.74, a P/E/G ratio of 7.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74. The company’s 50-day moving average is $57.85 and its 200 day moving average is $56.73.

Analysts Set New Price Targets

A number of research firms recently commented on PSTG. Lake Street Capital lifted their price objective on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Northland Securities restated a “market perform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Citigroup increased their price objective on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI boosted their target price on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Oppenheimer assumed coverage on Pure Storage in a report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

Insiders Place Their Bets

In other Pure Storage news, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction on 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 directly owns 67,681 shares of the company’s stock, valued at $4,207,050.96. The trade was a 10.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of the firm’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 directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 237,178 shares of company stock valued at $14,603,746. Corporate 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.