Zurcher Kantonalbank Zurich Cantonalbank Sells 2,309 Shares of Pure Storage, Inc. (NYSE:PSTG)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Pure Storage, Inc. (NYSE:PSTG) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 69,712 shares of the technology company’s stock after selling 2,309 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pure Storage were worth $4,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its stake in Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares during the period. State Street Corp increased its position in Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after acquiring an additional 626,427 shares during the period. Disciplined Growth Investors Inc. MN increased its position in Pure Storage by 3.2% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock worth $285,575,000 after acquiring an additional 177,559 shares during the period. Geode Capital Management LLC boosted its holdings in Pure Storage by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock valued at $269,798,000 after purchasing an additional 219,971 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after purchasing an additional 747,034 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Price Performance

PSTG stock opened at $50.99 on Friday. The business has a fifty day moving average price of $62.86 and a 200 day moving average price of $57.38. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67. The stock has a market capitalization of $16.63 billion, a price-to-earnings ratio of 134.17, a P/E/G ratio of 5.12 and a beta of 1.09.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PSTG. UBS Group upped their price objective 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. Wells Fargo & Company upped their price target on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Northland Securities restated a “market perform” rating and issued a $63.00 target price (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Finally, Citigroup decreased their price target on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Insider Activity

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the transaction, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now directly owns 72,927 shares of the company’s stock, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently 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.