Banque Pictet & Cie SA Has $9.82 Million Holdings in Pure Storage, Inc. (NYSE:PSTG)

Banque Pictet & Cie SA lifted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,796 shares of the technology company’s stock after purchasing an additional 18,028 shares during the quarter. Banque Pictet & Cie SA’s holdings in Pure Storage were worth $9,816,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in Pure Storage by 210.2% during the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after buying an additional 1,730,123 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after acquiring an additional 747,034 shares during the last quarter. State Street Corp lifted its position in Pure Storage by 6.5% in the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after acquiring an additional 626,427 shares in the last quarter. World Investment Advisors LLC acquired a new position in Pure Storage during the 3rd quarter valued at about $20,470,000. Finally, FMR LLC increased its holdings in Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Insider Activity

In other Pure Storage news, CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is owned by corporate insiders.

Pure Storage Trading Up 0.5 %

Pure Storage stock opened at $67.58 on Friday. The firm has a market capitalization of $22.05 billion, a price-to-earnings ratio of 177.85, a P/E/G ratio of 5.26 and a beta of 1.09. The firm has a 50 day simple moving average of $65.57 and a 200 day simple moving average of $57.56. Pure Storage, Inc. has a 1-year low of $38.78 and a 1-year high of $73.67.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup raised their target price on Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC raised their price objective on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus upped their target price on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. William Blair reissued an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Finally, Northland Securities restated a “market perform” rating and set a $63.00 price target (up from $59.00) on shares of Pure Storage in a report 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.70.

About Pure Storage

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.