Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Huntington National Bank

Huntington National Bank increased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 76.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,309 shares of the technology company’s stock after purchasing an additional 566 shares during the quarter. Huntington National Bank’s holdings in Pure Storage were worth $80,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Pure Storage in the fourth quarter valued at about $29,000. Compass Financial Services Inc purchased a new stake in Pure Storage in the 4th quarter valued at approximately $29,000. Crowley Wealth Management Inc. acquired a new position in Pure Storage during the 4th quarter worth approximately $31,000. Berbice Capital Management LLC purchased a new position in shares of Pure Storage during the 4th quarter worth approximately $37,000. Finally, Financial Life Planners purchased a new position in shares of Pure Storage during the 4th quarter worth approximately $44,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PSTG shares. Morgan Stanley lifted 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. Citigroup decreased their target price on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. StockNews.com downgraded shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Bank of America dropped their target price on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Stock Performance

Shares of PSTG opened at $37.03 on Monday. Pure Storage, Inc. has a 1 year low of $34.55 and a 1 year high of $73.67. The company’s 50 day simple moving average is $57.29 and its 200 day simple moving average is $57.27. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 97.45, a PEG ratio of 5.12 and a beta of 1.08.

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.