Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its position in Pure Storage, Inc. (NYSE:PSTG) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,610 shares of the technology company’s stock after acquiring an additional 5,000 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Pure Storage were worth $4,251,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PSTG. Wealth Enhancement Advisory Services LLC increased its stake in Pure Storage by 97.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,974 shares of the technology company’s stock worth $769,000 after buying an additional 5,918 shares during the period. ORG Partners LLC purchased a new stake in shares of Pure Storage during the second quarter worth about $35,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Pure Storage in the second quarter worth about $748,000. Swedbank AB purchased a new position in Pure Storage in the second quarter valued at about $2,781,000. Finally, Miracle Mile Advisors LLC acquired a new stake in Pure Storage during the 2nd quarter valued at approximately $488,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the transaction, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at $4,862,874.48. The trade was a 20.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 454,542 shares of company stock worth $25,154,030. Insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and increased their target price for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. Wells Fargo & Company raised their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Needham & Company LLC upped their target price on shares of Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Susquehanna reiterated a “positive” rating and issued a $80.00 price target on shares of Pure Storage in a research note on Monday, August 26th. Finally, TD Cowen boosted their price objective on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.10.

Pure Storage Stock Up 1.9 %

Pure Storage stock opened at $63.70 on Friday. The firm has a market capitalization of $20.87 billion, a P/E ratio of 166.14, a P/E/G ratio of 7.48 and a beta of 1.13. The company has a 50-day simple moving average of $54.04 and a 200-day simple moving average of $56.91. Pure Storage, Inc. has a one year low of $34.32 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77.

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.