Siemens Fonds Invest GmbH Takes Position in Pure Storage, Inc. (NYSE:PSTG)

Siemens Fonds Invest GmbH acquired a new stake in Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,312 shares of the technology company’s stock, valued at approximately $81,000.

A number of other institutional investors also recently made changes to their positions in the business. Sugar Maple Asset Management LLC purchased a new stake in Pure Storage during the 4th quarter valued at $29,000. Compass Financial Services Inc purchased a new stake in Pure Storage during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new stake in Pure Storage during the 4th quarter valued at $31,000. Berbice Capital Management LLC purchased a new stake in Pure Storage during the 4th quarter valued at $37,000. Finally, Financial Life Planners purchased a new stake in Pure Storage during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $75.00 price target on shares of Pure Storage in a research report on Thursday, February 27th. Citigroup increased their price target on shares of Pure Storage from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday. UBS Group increased their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, February 27th. Bank of America dropped their target price on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, StockNews.com cut shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.70.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $56.53 on Monday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67. The stock has a market cap of $18.43 billion, a P/E ratio of 148.77, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. The firm has a 50-day moving average of $46.48 and a 200 day moving average of $55.74.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 6,977 shares of the firm’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the sale, the executive now directly owns 90,223 shares in the company, valued at approximately $3,691,022.93. This trade represents a 7.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the sale, the insider now owns 801,959 shares of the company’s stock, valued at approximately $41,709,887.59. This represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,849 shares of company stock valued at $5,531,346 in the last three months. Company insiders own 5.60% of the company’s stock.

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.