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

EFG Asset Management Americas Corp. increased its holdings in Pure Storage, Inc. (NYSE:PSTG) by 73.8% during the second quarter, Holdings Channel.com reports. The firm owned 28,400 shares of the technology company’s stock after acquiring an additional 12,060 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Pure Storage were worth $1,824,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Pure Storage by 1.6% in the first quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock valued at $1,652,735,000 after acquiring an additional 495,183 shares during the period. First Trust Advisors LP increased its position in shares of Pure Storage by 4.2% in the fourth quarter. First Trust Advisors LP now owns 4,028,716 shares of the technology company’s stock valued at $143,664,000 after acquiring an additional 160,877 shares during the period. Bank of New York Mellon Corp increased its position in shares of Pure Storage by 56.1% in the second quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock valued at $237,345,000 after acquiring an additional 1,327,873 shares during the period. Norges Bank purchased a new position in shares of Pure Storage in the fourth quarter valued at about $115,452,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Pure Storage by 12.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock valued at $143,470,000 after acquiring an additional 249,761 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Down 2.6 %

NYSE:PSTG traded down $1.21 during mid-day trading on Friday, hitting $45.73. 3,555,444 shares of the company’s stock were exchanged, compared to its average volume of 3,943,073. The business has a fifty day moving average price of $58.90 and a 200 day moving average price of $56.75. The company has a market cap of $14.87 billion, a PE ratio of 163.36, a P/E/G ratio of 7.59 and a beta of 1.11. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $52.39, for a total value of $5,239,000.00. Following the transaction, the insider now owns 800,000 shares in the company, valued at $41,912,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $52.39, for a total value of $5,239,000.00. Following the transaction, the insider now owns 800,000 shares in the company, valued at $41,912,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Dan Fitzsimons sold 9,881 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $59.32, for a total transaction of $586,140.92. Following the completion of the transaction, the executive now owns 115,601 shares in the company, valued at approximately $6,857,451.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 324,177 shares of company stock worth $18,863,083. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Susquehanna restated a “positive” rating and issued a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. StockNews.com upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Raymond James reduced their price target on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Finally, Northland Capmk cut shares of Pure Storage from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $66.95.

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.