Nordea Investment Management AB Purchases 33,499 Shares of Pure Storage, Inc. $PSTG

Nordea Investment Management AB boosted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 15.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,885 shares of the technology company’s stock after acquiring an additional 33,499 shares during the period. Nordea Investment Management AB owned about 0.08% of Pure Storage worth $20,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of PSTG. Integrated Wealth Concepts LLC bought a new position in shares of Pure Storage during the first quarter valued at approximately $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Pure Storage by 129.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the technology company’s stock valued at $387,000 after acquiring an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Pure Storage by 109.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock valued at $50,377,000 after acquiring an additional 595,307 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Pure Storage by 4.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock valued at $212,000 after acquiring an additional 194 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Pure Storage by 468.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,692 shares of the technology company’s stock worth $213,000 after acquiring an additional 3,042 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PSTG shares. Piper Sandler set a $92.00 price objective on Pure Storage and gave the company an “overweight” rating in a research report on Thursday, September 25th. Citigroup lowered their price target on shares of Pure Storage from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, December 3rd. UBS Group increased their target price on shares of Pure Storage from $55.00 to $60.00 and gave the company a “sell” rating in a research report on Wednesday, December 3rd. Northland Securities set a $77.00 price target on shares of Pure Storage in a report on Wednesday, December 3rd. Finally, Susquehanna set a $105.00 price target on Pure Storage in a research report on Wednesday, December 3rd. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and an average price target of $95.26.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ajay Singh sold 7,178 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the completion of the sale, the insider owned 215,091 shares in the company, valued at approximately $14,441,209.74. This represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 207,178 shares of company stock valued at $16,771,931. Company insiders own 5.60% of the company’s stock.

Pure Storage Trading Up 2.5%

NYSE:PSTG opened at $72.36 on Friday. The company’s 50 day moving average is $75.28 and its two-hundred day moving average is $74.42. The company has a market cap of $23.89 billion, a PE ratio of 190.42, a P/E/G ratio of 7.83 and a beta of 1.26. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $100.59.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. The firm had revenue of $763.77 million for the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. As a group, analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Pure Storage Company Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.