Montanaro Asset Management Ltd Acquires 615 Shares of Pure Storage, Inc. (NYSE:PSTG)

Montanaro Asset Management Ltd grew its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 20.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,665 shares of the technology company’s stock after acquiring an additional 615 shares during the quarter. Montanaro Asset Management Ltd’s holdings in Pure Storage were worth $225,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Citigroup Inc. raised its position in Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after purchasing an additional 14,659 shares during the period. TT International Asset Management LTD increased its holdings in shares of Pure Storage by 1,160.1% in the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock worth $3,671,000 after buying an additional 67,285 shares during the period. Sycomore Asset Management lifted its stake in shares of Pure Storage by 57.8% in the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock valued at $11,541,000 after acquiring an additional 68,840 shares during the last quarter. Asio Capital LLC purchased a new stake in Pure Storage during the 4th quarter valued at about $264,000. Finally, Oak Thistle LLC purchased a new stake in Pure Storage during the 4th quarter valued at about $1,196,000. 83.42% of the stock is currently owned by institutional investors.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the transaction, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Lake Street Capital lifted their price target on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Bank of America lowered their price target on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Barclays raised their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Northland Securities reaffirmed a “market perform” rating and set a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Finally, Citigroup reduced their price target on Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Stock Performance

Shares of PSTG opened at $50.69 on Thursday. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67. The firm’s 50-day simple moving average is $60.84 and its two-hundred day simple moving average is $57.42. The stock has a market cap of $16.54 billion, a PE ratio of 133.40, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

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.