Korea Investment CORP Has $19.33 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Korea Investment CORP lifted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 38.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 314,582 shares of the technology company’s stock after buying an additional 86,987 shares during the period. Korea Investment CORP owned about 0.10% of Pure Storage worth $19,325,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Pure Storage by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company’s stock worth $2,054,448,000 after purchasing an additional 615,931 shares during the last quarter. State Street Corp increased its holdings 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 buying an additional 626,427 shares during the last quarter. Disciplined Growth Investors Inc. MN raised 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 in the last quarter. Geode Capital Management LLC lifted its stake in Pure Storage by 4.3% in the third quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock valued at $269,798,000 after acquiring an additional 219,971 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Pure Storage by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,508,029 shares of the technology company’s stock valued at $215,498,000 after acquiring an additional 9,985 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were 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 directly owns 262,144 shares in the company, valued at $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.00% of the stock is currently owned by company insiders.

Pure Storage Stock Performance

PSTG opened at $46.00 on Friday. Pure Storage, Inc. has a 52-week low of $44.76 and a 52-week high of $73.67. The firm has a market cap of $15.01 billion, a P/E ratio of 121.04, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The business’s fifty day moving average is $60.09 and its 200-day moving average is $57.43.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and raised their target price for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. TD Cowen lifted their target price on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays increased their price target on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Morgan Stanley lifted their price objective on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $75.00 price objective on shares of Pure Storage in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.