Arizona State Retirement System Increases Holdings in Pure Storage, Inc. (NYSE:PSTG)

Arizona State Retirement System lifted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,419 shares of the technology company’s stock after acquiring an additional 1,899 shares during the quarter. Arizona State Retirement System’s holdings in Pure Storage were worth $5,554,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PSTG. Franklin Resources Inc. boosted its stake in shares of Pure Storage by 210.2% during the 3rd 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 position in shares of 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 purchasing an additional 747,034 shares during the last quarter. State Street Corp raised its position in shares of 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 purchasing an additional 626,427 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Pure Storage during the 3rd quarter worth approximately $20,470,000. Finally, FMR LLC raised its position in shares of Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after purchasing an additional 368,643 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Up 0.8 %

PSTG stock opened at $49.34 on Friday. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 129.83, a PEG ratio of 5.12 and a beta of 1.09. The business has a fifty day simple moving average of $64.22 and a 200-day simple moving average of $57.82. Pure Storage, Inc. has a 52 week low of $44.76 and a 52 week high of $73.67.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the sale, the executive now directly owns 72,927 shares of the company’s stock, valued at approximately $4,675,349.97. This represents a 10.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,178 shares of company stock worth $2,316,746 in the last ninety days. Insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several research reports. UBS Group lifted their price objective on Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Thursday, February 27th. Oppenheimer initiated coverage on Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price objective for the company. TD Cowen lifted their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their price objective on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company boosted their price target on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.20.

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.