Disciplined Growth Investors Inc. MN Acquires 177,559 Shares of Pure Storage, Inc. (NYSE:PSTG)

Disciplined Growth Investors Inc. MN boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,684,218 shares of the technology company’s stock after purchasing an additional 177,559 shares during the period. Pure Storage comprises about 5.4% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 3rd biggest position. Disciplined Growth Investors Inc. MN owned 1.73% of Pure Storage worth $285,575,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PSTG. Bank of New York Mellon Corp lifted its holdings in Pure Storage by 56.1% during the 2nd 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 purchasing an additional 1,327,873 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted 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 valued at $204,163,000 after purchasing an additional 747,034 shares during the last quarter. State Street Corp lifted 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 valued at $515,596,000 after purchasing an additional 626,427 shares during the last quarter. World Investment Advisors LLC bought a new position in Pure Storage during the 3rd quarter valued at about $20,470,000. Finally, FMR LLC raised 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 worth $2,469,487,000 after acquiring an additional 368,643 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Northland Securities reaffirmed a “market perform” rating and issued a $63.00 target price (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Oppenheimer assumed coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Finally, Needham & Company LLC boosted their target price on shares of Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One 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 MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and an average target price of $72.10.

Insider Activity at Pure Storage

In other news, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,639 shares in the company, valued at $4,862,874.48. This represents a 20.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 454,542 shares of company stock worth $25,154,030. 6.00% of the stock is currently owned by company insiders.

Pure Storage Stock Down 1.7 %

Shares of NYSE PSTG opened at $63.79 on Tuesday. The stock has a market cap of $20.90 billion, a P/E ratio of 167.87, a P/E/G ratio of 7.83 and a beta of 1.13. The firm has a 50 day moving average price of $53.31 and a 200 day moving average price of $56.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77. Pure Storage, Inc. has a 52-week low of $32.54 and a 52-week high of $70.41.

Pure Storage 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.