Elo Mutual Pension Insurance Co Acquires 1,317 Shares of Pure Storage, Inc. (NYSE:PSTG)

Elo Mutual Pension Insurance Co boosted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,762 shares of the technology company’s stock after buying an additional 1,317 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Pure Storage were worth $1,767,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Montanaro Asset Management Ltd raised its holdings in shares of Pure Storage by 20.2% in the fourth quarter. Montanaro Asset Management Ltd now owns 3,665 shares of the technology company’s stock valued at $225,000 after purchasing an additional 615 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Pure Storage in the 4th quarter worth about $210,906,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Pure Storage by 18.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 243,185 shares of the technology company’s stock valued at $15,620,000 after acquiring an additional 37,906 shares during the last quarter. Korea Investment CORP lifted its stake in Pure Storage by 38.2% in the fourth quarter. Korea Investment CORP now owns 314,582 shares of the technology company’s stock valued at $19,325,000 after purchasing an additional 86,987 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Pure Storage in the fourth quarter valued at $276,000. 83.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Ajay Singh sold 19,972 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.00% of the stock is owned by insiders.

Pure Storage Stock Down 5.0 %

Shares of Pure Storage stock opened at $46.00 on Friday. The company’s fifty day simple moving average is $60.09 and its two-hundred day simple moving average is $57.43. Pure Storage, Inc. has a 12-month low of $44.76 and a 12-month high of $73.67. The firm has a market cap of $15.01 billion, a PE ratio of 121.04, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PSTG shares. Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Morgan Stanley lifted their target price on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Lake Street Capital boosted their price objective on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their target price on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Stifel Nicolaus upped their target price on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

About Pure Storage

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.