Retirement Systems of Alabama Grows Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Retirement Systems of Alabama grew its holdings in Pure Storage, Inc. (NYSE:PSTG) by 0.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 378,523 shares of the technology company’s stock after buying an additional 3,195 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Pure Storage worth $23,253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Creative Planning increased its position in shares of Pure Storage by 45.4% during the 2nd quarter. Creative Planning now owns 19,619 shares of the technology company’s stock valued at $1,260,000 after purchasing an additional 6,124 shares during the last quarter. Truist Financial Corp increased its position in Pure Storage by 19.3% during the second quarter. Truist Financial Corp now owns 12,561 shares of the technology company’s stock valued at $807,000 after acquiring an additional 2,028 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Pure Storage by 8.0% in the second quarter. Cetera Investment Advisers now owns 60,275 shares of the technology company’s stock valued at $3,870,000 after acquiring an additional 4,474 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Pure Storage in the second quarter valued at $988,000. Finally, Park Place Capital Corp lifted its holdings in shares of Pure Storage by 403.1% in the 3rd quarter. Park Place Capital Corp now owns 1,469 shares of the technology company’s stock worth $74,000 after acquiring an additional 1,177 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Trading Down 0.3 %

Shares of NYSE PSTG opened at $69.75 on Friday. Pure Storage, Inc. has a 12-month low of $38.78 and a 12-month high of $73.67. The stock’s fifty day simple moving average is $64.23 and its two-hundred day simple moving average is $57.22. The stock has a market capitalization of $22.76 billion, a PE ratio of 183.56, a price-to-earnings-growth ratio of 8.18 and a beta of 1.09.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. William Blair reiterated an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Needham & Company LLC raised their price target on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. TD Cowen upped their price objective on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Citigroup lifted their target price on Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Insider Activity at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was 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 in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,178 shares of company stock valued at $8,871,746 over the last quarter. 6.00% of the stock is owned by corporate insiders.

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.