EFG Asset Management Americas Corp. Purchases 12,060 Shares of Pure Storage, Inc. (NYSE:PSTG)

EFG Asset Management Americas Corp. raised its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 73.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,400 shares of the technology company’s stock after acquiring an additional 12,060 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Pure Storage were worth $1,824,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Pure Storage by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock worth $1,652,735,000 after purchasing an additional 495,183 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Pure Storage by 4.2% during the 4th quarter. First Trust Advisors LP now owns 4,028,716 shares of the technology company’s stock worth $143,664,000 after purchasing an additional 160,877 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Pure Storage by 56.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock worth $237,345,000 after purchasing an additional 1,327,873 shares in the last quarter. Norges Bank bought a new position in shares of Pure Storage during the 4th quarter worth about $115,452,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Pure Storage by 12.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock worth $143,470,000 after purchasing an additional 249,761 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent research reports. Guggenheim reaffirmed a “buy” rating and issued a $72.00 price target on shares of Pure Storage in a research report on Tuesday, June 25th. Susquehanna reaffirmed a “positive” rating and issued a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. Needham & Company LLC dropped their price target on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Lake Street Capital dropped their price target on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, StockNews.com raised shares of Pure Storage from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned 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 target price of $66.95.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on 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 sale, the insider now directly owns 900,000 shares of the company’s stock, valued at approximately $53,550,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO P. Kevan Krysler sold 14,296 shares of Pure Storage 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 completion of the sale, the chief financial officer now directly owns 518,623 shares of the company’s stock, valued at approximately $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 Pure Storage stock in a transaction on Thursday, July 18th. The stock was 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 owns 900,000 shares in the company, valued at approximately $53,550,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 324,177 shares of company stock valued at $18,863,083. Insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

Shares of NYSE PSTG traded down $1.21 during mid-day trading on Friday, reaching $45.73. 3,555,444 shares of the company were exchanged, compared to its average volume of 3,943,073. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $14.87 billion, a PE ratio of 163.36, a PEG ratio of 7.59 and a beta of 1.11. The company’s 50 day moving average price is $58.90 and its 200 day moving average price is $56.75.

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.