Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB increased its stake in Pure Storage, Inc. (NYSE:PSTG) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 23,034 shares of the technology company’s stock after buying an additional 1,542 shares during the quarter. Nordea Investment Management AB’s holdings in Pure Storage were worth $1,424,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PSTG. Franklin Resources Inc. raised its position in Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after acquiring an additional 1,730,123 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Pure Storage by 22.5% during the 3rd 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 buying an additional 747,034 shares during the period. State Street Corp increased its holdings in shares of Pure Storage by 6.5% in the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after purchasing an additional 626,427 shares during the period. World Investment Advisors LLC acquired a new position in shares of Pure Storage in the 3rd quarter valued at about $20,470,000. Finally, FMR LLC increased its holdings in shares of Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $64.88 on Monday. The business has a fifty day simple moving average of $58.41 and a 200 day simple moving average of $56.71. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $21.17 billion, a price-to-earnings ratio of 170.74, a PEG ratio of 7.69 and a beta of 1.09. Pure Storage, Inc. has a one year low of $35.35 and a one year high of $70.41.

Analysts Set New Price Targets

Several brokerages recently commented on PSTG. Morgan Stanley boosted their price target on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Barclays boosted 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 raised Pure Storage from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. Evercore ISI upped their target price on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Northland Securities reaffirmed a “market perform” rating and set a $63.00 target price (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the completion of the transaction, the insider now directly owns 300,000 shares in the company, valued at $17,196,000. This represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction on 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 $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. Over the last ninety days, insiders sold 237,178 shares of company stock worth $14,603,746. 6.00% of the stock is owned by corporate 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.