LGT Group Foundation Buys 5,361 Shares of Pure Storage, Inc. (NYSE:PSTG)

LGT Group Foundation increased its stake in Pure Storage, Inc. (NYSE:PSTG) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,871 shares of the technology company’s stock after buying an additional 5,361 shares during the quarter. LGT Group Foundation’s holdings in Pure Storage were worth $5,828,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PSTG. Sugar Maple Asset Management LLC purchased a new stake in Pure Storage in the fourth quarter worth $29,000. Compass Financial Services Inc purchased a new stake in Pure Storage in the fourth quarter worth $29,000. Berbice Capital Management LLC purchased a new stake in Pure Storage in the fourth quarter worth $37,000. Larson Financial Group LLC increased its stake in Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after purchasing an additional 212 shares during the period. Finally, Financial Life Planners purchased a new stake in Pure Storage in the fourth quarter worth $44,000. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Stifel Nicolaus increased their target price on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their target price on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. UBS Group raised their price target on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. Finally, Barclays raised 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

Insider Transactions at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction dated 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 owns 262,144 shares in the company, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total value of $6,555,000.00. Following the sale, the insider now owns 7,316,722 shares in the company, valued at $479,611,127.10. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,178 shares of company stock worth $8,871,746. Insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

Shares of PSTG stock opened at $49.50 on Tuesday. Pure Storage, Inc. has a 1-year low of $44.76 and a 1-year high of $73.67. The stock’s 50-day moving average is $65.37 and its 200 day moving average is $58.09. The company has a market cap of $16.15 billion, a P/E ratio of 130.27, a PEG ratio of 5.12 and a beta of 1.09.

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.