Mitsubishi UFJ Asset Management Co. Ltd. Has $15.66 Million Stock Position in Pure Storage, Inc. $PSTG

Mitsubishi UFJ Asset Management Co. Ltd. cut its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 272,039 shares of the technology company’s stock after selling 3,757 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.08% of Pure Storage worth $15,664,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mechanics Financial Corp bought a new stake in Pure Storage in the 2nd quarter valued at $25,000. True Wealth Design LLC lifted its holdings in shares of Pure Storage by 402.8% during the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock worth $32,000 after acquiring an additional 439 shares during the period. SouthState Corp boosted its position in shares of Pure Storage by 474.8% during the 2nd quarter. SouthState Corp now owns 592 shares of the technology company’s stock valued at $34,000 after acquiring an additional 489 shares in the last quarter. REAP Financial Group LLC increased its stake in Pure Storage by 49.0% in the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after acquiring an additional 201 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Pure Storage by 35.6% in the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after acquiring an additional 239 shares during the period. 83.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Bank of America raised their price target on shares of Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Evercore ISI raised their target price on Pure Storage from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. boosted their price target on Pure Storage from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Guggenheim upped their price target on Pure Storage from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Finally, UBS Group set a $110.00 price objective on Pure Storage in a research note on Tuesday, October 21st. Fourteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.56.

Pure Storage Price Performance

PSTG stock opened at $87.39 on Wednesday. The stock has a market capitalization of $28.72 billion, a price-to-earnings ratio of 213.15, a P/E/G ratio of 8.99 and a beta of 1.24. The business has a fifty day moving average price of $88.82 and a 200 day moving average price of $67.62. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $100.59.

Pure Storage (NYSE:PSTG) last announced its earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $763.77 million during the quarter. On average, equities analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $92.49, for a total transaction of $9,249,000.00. Following the sale, the insider directly owned 200,000 shares of the company’s stock, valued at $18,498,000. This represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mona Chu sold 9,091 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total transaction of $771,916.81. Following the completion of the sale, the chief accounting officer directly owned 107,353 shares of the company’s stock, valued at approximately $9,115,343.23. This represents a 7.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 343,111 shares of company stock worth $27,634,439. Corporate insiders own 5.60% of the company’s stock.

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.