Pure Storage, Inc. $PSTG Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its stake in Pure Storage, Inc. (NYSE:PSTG) by 59.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 348,580 shares of the technology company’s stock after purchasing an additional 129,300 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.11% of Pure Storage worth $20,071,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. LPL Financial LLC increased its holdings in shares of Pure Storage by 22.6% during the 1st quarter. LPL Financial LLC now owns 118,368 shares of the technology company’s stock worth $5,240,000 after buying an additional 21,812 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Pure Storage by 13.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company’s stock worth $12,209,000 after acquiring an additional 32,611 shares during the period. Crumly & Associates Inc. acquired a new stake in Pure Storage during the second quarter worth $242,000. Michael S. Ryan Inc. purchased a new stake in Pure Storage in the second quarter valued at $254,000. Finally, Brighton Jones LLC acquired a new position in shares of Pure Storage in the 2nd quarter valued at $359,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 7,014 shares of Pure Storage stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total value of $602,151.90. Following the completion of the transaction, the insider owned 229,307 shares in the company, valued at $19,686,005.95. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Dan Fitzsimons sold 6,051 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total transaction of $528,978.42. Following the completion of the sale, the executive directly owned 62,759 shares in the company, valued at approximately $5,486,391.78. This represents a 8.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 347,811 shares of company stock valued at $31,067,815 over the last quarter. Insiders own 5.60% of the company’s stock.

Pure Storage Trading Up 3.9%

Pure Storage stock opened at $89.10 on Friday. The firm has a market capitalization of $29.28 billion, a P/E ratio of 217.31, a P/E/G ratio of 8.99 and a beta of 1.24. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $100.59. The stock’s fifty day simple moving average is $89.07 and its 200-day simple moving average is $70.59.

Pure Storage (NYSE:PSTG) last released its earnings results on Tuesday, September 9th. The technology company reported $0.44 EPS for the quarter. The firm had revenue of $763.77 million during the quarter. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%. Sell-side analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Piper Sandler set a $92.00 target price on shares of Pure Storage and gave the company an “overweight” rating in a research report on Thursday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Pure Storage in a research report on Wednesday, October 8th. Wells Fargo & Company upped their price target on Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Lake Street Capital raised their price target on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Northland Securities boosted their price objective on Pure Storage from $63.00 to $71.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned 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 target price of $92.61.

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.