DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Boosts Stake in Pure Storage, Inc. (NYSE:PSTG)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 48.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 111,140 shares of the technology company’s stock after purchasing an additional 36,520 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Pure Storage were worth $6,827,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

PSTG has been the subject of a number of research reports. UBS Group lifted their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a report on Thursday, February 27th. StockNews.com downgraded shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Citigroup reduced their price objective on Pure Storage from $77.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Needham & Company LLC restated a “buy” rating and set a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Finally, Piper Sandler reduced their price target on Pure Storage from $76.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. 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 a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Pure Storage Stock Performance

PSTG opened at $48.72 on Friday. The stock has a market capitalization of $15.88 billion, a P/E ratio of 128.21, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The business’s 50-day simple moving average is $45.89 and its 200-day simple moving average is $55.63.

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 6,977 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the transaction, the executive now directly owns 90,223 shares in the company, valued at approximately $3,691,022.93. This trade represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.00% of the stock is currently owned by corporate insiders.

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.