Mediolanum International Funds Ltd Has $1.70 Million Holdings in Pure Storage, Inc. (NYSE:PSTG)

Mediolanum International Funds Ltd increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 45.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,265 shares of the technology company’s stock after buying an additional 8,559 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Pure Storage were worth $1,699,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new position in Pure Storage during the 4th quarter worth about $29,000. ORG Wealth Partners LLC bought a new position in Pure Storage during the 3rd quarter worth about $31,000. Larson Financial Group LLC increased its holdings in Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after purchasing an additional 212 shares in the last quarter. Berbice Capital Management LLC bought a new position in Pure Storage during the 4th quarter worth about $37,000. Finally, Venturi Wealth Management LLC increased its holdings in Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after purchasing an additional 219 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PSTG shares. Needham & Company LLC raised their price objective on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus raised their price objective on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Guggenheim raised their price objective on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. TD Cowen raised 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. Finally, Wells Fargo & Company raised their price objective on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.70.

Pure Storage Stock Down 0.7 %

Shares of PSTG stock opened at $67.89 on Monday. Pure Storage, Inc. has a 12-month low of $38.78 and a 12-month high of $73.67. The firm has a 50 day moving average price of $63.36 and a two-hundred day moving average price of $57.04. The company has a market capitalization of $22.15 billion, a PE ratio of 178.66, a price-to-earnings-growth ratio of 8.16 and a beta of 1.09.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the transaction, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,178 shares of company stock worth $8,871,746. Corporate insiders own 6.00% 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.