Natixis Buys 153,800 Shares of Pure Storage, Inc. (NYSE:PSTG)

Posted by on Jun 17th, 2023

Natixis lifted its holdings in Pure Storage, Inc. (NYSE:PSTG – Get Rating) by 23.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 809,300 shares of the technology company’s stock after purchasing an additional 153,800 shares during the quarter. Natixis owned about 0.27% of Pure Storage worth $21,657,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Pure Storage in the 3rd quarter worth $31,000. Parkside Financial Bank & Trust acquired a new stake in shares of Pure Storage in the 1st quarter worth $33,000. Accurate Wealth Management LLC acquired a new stake in shares of Pure Storage in the 4th quarter worth $39,000. AdvisorNet Financial Inc boosted its position in shares of Pure Storage by 280.5% in the 4th quarter. AdvisorNet Financial Inc now owns 1,560 shares of the technology company’s stock worth $42,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Antonetti Capital Management LLC acquired a new stake in shares of Pure Storage in the 4th quarter worth $45,000. Institutional investors and hedge funds own 84.96% of the company’s stock.

Pure Storage Stock Up 0.4 %

NYSE:PSTG opened at $37.75 on Friday. Pure Storage, Inc. has a 52 week low of $22.14 and a 52 week high of $38.36. The stock has a market capitalization of $11.63 billion, a PE ratio of 1,258.75, a price-to-earnings-growth ratio of 8.64 and a beta of 1.21. The stock’s 50-day moving average price is $27.12 and its 200-day moving average price is $27.24.

Insider Activity

In other news, insider Ajay Singh sold 37,084 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $36.42, for a total transaction of $1,350,599.28. Following the sale, the insider now directly owns 414,393 shares in the company, valued at approximately $15,092,193.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Mona Chu sold 11,053 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $34.37, for a total transaction of $379,891.61. Following the sale, the chief accounting officer now directly owns 162,991 shares in the company, valued at approximately $5,602,000.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajay Singh sold 37,084 shares of Pure Storage stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $36.42, for a total value of $1,350,599.28. Following the completion of the sale, the insider now owns 414,393 shares in the company, valued at $15,092,193.06. The disclosure for this sale can be found here. Insiders have sold 95,773 shares of company stock worth $2,927,553 in the last ninety days. Company insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

PSTG has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Pure Storage from $37.00 to $45.00 in a research report on Friday. JPMorgan Chase & Co. reduced their target price on Pure Storage from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, March 2nd. Wedbush raised their target price on Pure Storage from $34.00 to $39.00 in a research note on Thursday, June 1st. Deutsche Bank Aktiengesellschaft raised their target price on Pure Storage from $36.00 to $42.00 in a research note on Friday. Finally, 888 restated a “maintains” rating on shares of Pure Storage in a research note on Thursday, June 1st. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.89.

Pure Storage Company Profile

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Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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