DekaBank Deutsche Girozentrale Increases Holdings in Pure Storage, Inc. (NYSE:PSTG)

DekaBank Deutsche Girozentrale lifted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 534.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,692 shares of the technology company’s stock after buying an additional 40,170 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Pure Storage were worth $3,144,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PSTG. Banque Cantonale Vaudoise purchased a new position in Pure Storage in the 1st quarter worth approximately $25,000. Fidelis Capital Partners LLC purchased a new position in Pure Storage in the 1st quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV increased its stake in Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after purchasing an additional 161 shares during the period. Larson Financial Group LLC increased its stake in Pure Storage by 242.9% in the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after purchasing an additional 306 shares during the period. Finally, Principal Securities Inc. purchased a new position in Pure Storage in the 4th quarter worth approximately $31,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on PSTG shares. UBS Group decreased their price target on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Wells Fargo & Company lifted their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Morgan Stanley cut Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 target price on the stock. in a research note on Wednesday, June 12th. Northland Securities reissued a “market perform” rating and set a $59.00 target price (down from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. Finally, Stifel Nicolaus reduced their target price on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.95.

Pure Storage Trading Down 1.0 %

NYSE PSTG opened at $49.29 on Thursday. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The firm has a market capitalization of $16.03 billion, a PE ratio of 176.04, a P/E/G ratio of 7.49 and a beta of 1.11. The stock’s 50 day moving average is $56.26 and its 200 day moving average is $57.09.

Insider Activity at Pure Storage

In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.79, for a total value 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Pure Storage news, CRO Dan Fitzsimons sold 9,881 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $59.32, for a total value of $586,140.92. Following the sale, the executive now directly owns 115,601 shares of the company’s stock, valued at $6,857,451.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO P. Kevan Krysler sold 14,296 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.79, for a total value of $911,941.84. Following the completion of the sale, the chief financial officer now directly owns 518,623 shares in the company, valued at $33,082,961.17. The disclosure for this sale can be found here. Insiders have sold 324,177 shares of company stock worth $18,863,083 over the last ninety days. 6.00% of the stock is owned by corporate insiders.

Pure Storage 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.