Thrivent Financial for Lutherans Raises Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Thrivent Financial for Lutherans boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 73,249 shares of the technology company’s stock after acquiring an additional 661 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Pure Storage were worth $4,500,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in PSTG. Prospera Financial Services Inc raised its stake in shares of Pure Storage by 22.9% in the third quarter. Prospera Financial Services Inc now owns 4,960 shares of the technology company’s stock worth $249,000 after purchasing an additional 925 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Pure Storage in the 3rd quarter worth approximately $392,000. Citigroup Inc. raised its position in Pure Storage by 11.3% during the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after buying an additional 14,659 shares during the last quarter. Larson Financial Group LLC lifted its stake in Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after acquiring an additional 212 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Pure Storage by 29.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 995,019 shares of the technology company’s stock valued at $49,990,000 after acquiring an additional 225,949 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Lake Street Capital lifted 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 boosted their price objective on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Northland Securities reaffirmed a “market perform” rating and set a $63.00 target price (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Finally, Bank of America decreased their price target on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Stock Performance

Shares of PSTG opened at $52.89 on Tuesday. The stock has a 50 day moving average price of $61.33 and a 200 day moving average price of $57.42. The stock has a market capitalization of $17.25 billion, a price-to-earnings ratio of 139.19, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67.

Insider Transactions at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.00% of the company’s stock.

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.