Raiffeisen Bank International AG Buys Shares of 542,979 Pure Storage, Inc. (NYSE:PSTG)

Raiffeisen Bank International AG purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 542,979 shares of the technology company’s stock, valued at approximately $33,925,000. Raiffeisen Bank International AG owned approximately 0.17% of Pure Storage as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. World Investment Advisors increased its holdings in shares of Pure Storage by 1.6% in the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company’s stock valued at $592,000 after acquiring an additional 150 shares during the period. Peapack Gladstone Financial Corp boosted its holdings in shares of Pure Storage by 2.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company’s stock valued at $355,000 after buying an additional 150 shares in the last quarter. HighPoint Advisor Group LLC grew its position in shares of Pure Storage by 2.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company’s stock worth $396,000 after buying an additional 157 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Pure Storage by 1.4% during the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock worth $815,000 after acquiring an additional 186 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. boosted its stake in Pure Storage by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock valued at $4,130,000 after acquiring an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction on Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the transaction, the executive now directly owns 90,223 shares of the company’s stock, valued at approximately $3,691,022.93. The trade was a 7.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $52.01, for a total value of $5,201,000.00. Following the completion of the sale, the insider now directly owns 801,959 shares in the company, valued at $41,709,887.59. This trade represents a 11.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 107,849 shares of company stock valued at $5,531,346. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the subject of several analyst reports. Evercore ISI decreased their price objective on Pure Storage from $75.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. UBS Group upped 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 cut shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Bank of America cut their price target on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $70.20.

Pure Storage Price Performance

Pure Storage stock opened at $56.26 on Thursday. The business has a 50 day simple moving average of $46.18 and a 200-day simple moving average of $55.66. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $73.67. The stock has a market capitalization of $18.34 billion, a PE ratio of 148.06, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05.

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.