Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Comerica Bank

Comerica Bank boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 105.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 436,527 shares of the technology company’s stock after buying an additional 223,679 shares during the period. Comerica Bank owned 0.13% of Pure Storage worth $26,816,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its position in Pure Storage by 9.4% in the 3rd quarter. Barclays PLC now owns 316,911 shares of the technology company’s stock valued at $15,921,000 after buying an additional 27,345 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Pure Storage in the 3rd quarter worth $477,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Pure Storage in the third quarter valued at about $119,000. Tidal Investments LLC increased its stake in shares of Pure Storage by 2.0% during the third quarter. Tidal Investments LLC now owns 69,711 shares of the technology company’s stock worth $3,502,000 after acquiring an additional 1,343 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Pure Storage by 210.2% during the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after purchasing an additional 1,730,123 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Activity

In related news, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $40.91, for a total value of $285,429.07. Following the completion of the sale, the executive now directly owns 90,223 shares in the company, valued at $3,691,022.93. This trade represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Trading Down 0.6 %

NYSE PSTG opened at $45.32 on Thursday. The stock’s 50 day moving average is $47.05 and its two-hundred day moving average is $55.97. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The company has a market capitalization of $14.78 billion, a price-to-earnings ratio of 119.27, a PEG ratio of 5.12 and a beta of 1.08.

Analyst Upgrades and Downgrades

PSTG has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Thursday, February 27th. Citigroup decreased their price objective on shares of Pure Storage from $77.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. StockNews.com downgraded shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Piper Sandler dropped their price objective on shares of Pure Storage from $76.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Bank of America reduced their target price on Pure Storage from $77.00 to $73.00 and set a “neutral” 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 assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $70.20.

Pure Storage Company 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.