Forsta AP Fonden Increases Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Forsta AP Fonden grew its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 99.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,500 shares of the technology company’s stock after purchasing an additional 67,000 shares during the period. Forsta AP Fonden’s holdings in Pure Storage were worth $8,262,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Pure Storage by 4.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 216,806 shares of the technology company’s stock worth $13,921,000 after buying an additional 9,503 shares during the period. Creative Planning increased its position in shares of Pure Storage by 45.4% during the second quarter. Creative Planning now owns 19,619 shares of the technology company’s stock worth $1,260,000 after acquiring an additional 6,124 shares during the period. NewEdge Advisors LLC raised its stake in shares of Pure Storage by 137.6% in the second quarter. NewEdge Advisors LLC now owns 23,712 shares of the technology company’s stock valued at $1,523,000 after acquiring an additional 13,732 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Pure Storage by 34.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,099 shares of the technology company’s stock valued at $584,000 after purchasing an additional 2,352 shares during the period. Finally, Truist Financial Corp grew its stake in Pure Storage by 19.3% during the 2nd quarter. Truist Financial Corp now owns 12,561 shares of the technology company’s stock worth $807,000 after purchasing an additional 2,028 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Trading Up 1.1 %

Shares of PSTG stock opened at $68.37 on Friday. Pure Storage, Inc. has a twelve month low of $38.78 and a twelve month high of $73.67. The business’s 50 day moving average is $62.70 and its two-hundred day moving average is $57.00. The company has a market capitalization of $22.31 billion, a P/E ratio of 179.93, a price-to-earnings-growth ratio of 8.72 and a beta of 1.09.

Insider Activity at Pure Storage

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price objective on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Lake Street Capital boosted their price target on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Needham & Company LLC boosted their target price on shares of Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, William Blair restated an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.