Pure Storage, Inc. (NYSE:PSTG) Shares Bought by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV boosted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 37,601 shares of the technology company’s stock after purchasing an additional 266 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Pure Storage were worth $2,393,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new stake in Pure Storage during the 4th quarter worth about $29,000. Compass Financial Services Inc acquired a new stake in Pure Storage during the 4th quarter worth about $29,000. Crowley Wealth Management Inc. acquired a new stake in Pure Storage during the 4th quarter worth about $31,000. Berbice Capital Management LLC acquired a new stake in Pure Storage during the 4th quarter worth about $37,000. Finally, Financial Life Planners acquired a new stake in Pure Storage during the 4th quarter worth about $44,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PSTG shares. StockNews.com downgraded Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Piper Sandler dropped their target price 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. Citigroup raised their target price on Pure Storage from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday. UBS Group raised their target price on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $75.00 target price on shares of Pure Storage in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.70.

Pure Storage Price Performance

PSTG opened at $56.53 on Friday. The company’s 50 day simple moving average is $46.48 and its two-hundred day simple moving average is $55.70. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of 148.77, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05.

Insiders Place Their Bets

In other Pure Storage news, CRO Dan Fitzsimons sold 872 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $51.51, for a total value of $44,916.72. Following the transaction, the executive now directly owns 89,351 shares of the company’s stock, valued at $4,602,470.01. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the sale, the insider now owns 801,959 shares of the company’s stock, valued at $41,709,887.59. This represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,849 shares of company stock valued at $5,531,346 in the last ninety days. 5.60% 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.