Prudential PLC Has $920,000 Stake in Pure Storage, Inc. (NYSE:PSTG)

Prudential PLC lifted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 19.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 14,321 shares of the technology company’s stock after acquiring an additional 2,314 shares during the period. Prudential PLC’s holdings in Pure Storage were worth $920,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Banque Cantonale Vaudoise acquired a new position in Pure Storage during the first quarter valued at approximately $25,000. Fidelis Capital Partners LLC acquired a new position in Pure Storage during the first quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV grew its holdings in Pure Storage by 61.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after purchasing an additional 161 shares during the period. Larson Financial Group LLC grew its holdings in Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after purchasing an additional 306 shares during the period. Finally, Principal Securities Inc. acquired a new position in Pure Storage during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PSTG shares. TD Cowen decreased their price objective on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Barclays upped their price target on shares of Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Wedbush reiterated an “outperform” rating and issued a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. StockNews.com upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Finally, Needham & Company LLC reduced their price target on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.95.

Insiders Place Their Bets

In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $63.79, for a total transaction of $911,941.84. Following the sale, the chief financial officer now directly owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $63.79, for a total transaction of $911,941.84. Following the sale, the chief financial officer now directly owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the completion of the transaction, the insider now directly owns 900,000 shares in the company, valued at $53,550,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 324,177 shares of company stock valued at $18,863,083. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Stock Performance

NYSE PSTG opened at $48.25 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average price is $57.57 and its two-hundred day moving average price is $56.94. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $70.41. The firm has a market capitalization of $15.69 billion, a P/E ratio of 172.32, a price-to-earnings-growth ratio of 7.10 and a beta of 1.11.

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.