Union Bancaire Privee UBP SA Purchases Shares of 19,678 Pure Storage, Inc. (NYSE:PSTG)

Union Bancaire Privee UBP SA purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,678 shares of the technology company’s stock, valued at approximately $1,253,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cherry Creek Investment Advisors Inc. grew its stake in shares of Pure Storage by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock valued at $4,130,000 after buying an additional 189 shares during the period. Nvwm LLC lifted its position in Pure Storage by 23.3% in the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after acquiring an additional 194 shares in the last quarter. Larson Financial Group LLC lifted its position in Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after acquiring an additional 212 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after acquiring an additional 219 shares in the last quarter. Finally, Brookstone Capital Management lifted its position in Pure Storage by 3.1% in the 4th quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock valued at $486,000 after acquiring an additional 240 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PSTG shares. Lake Street Capital raised their price target on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Citigroup raised their price target on shares of Pure Storage from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday. Oppenheimer started coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price target on the stock. Stifel Nicolaus lifted their target price on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.95.

Pure Storage Trading Down 3.9 %

Pure Storage stock opened at $65.14 on Monday. Pure Storage, Inc. has a 1-year low of $40.32 and a 1-year high of $73.67. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 171.43, a P/E/G ratio of 5.12 and a beta of 1.09. The firm has a 50 day simple moving average of $66.23 and a 200 day simple moving average of $58.16.

Insider Activity at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred 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 completion of the transaction, the insider now owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,178 shares of company stock worth $8,871,746. Corporate insiders own 6.00% of the company’s stock.

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.