First Hawaiian Bank Has $1.85 Million Holdings in Pure Storage, Inc. (NYSE:PSTG)

First Hawaiian Bank raised its holdings in Pure Storage, Inc. (NYSE:PSTG) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,050 shares of the technology company’s stock after buying an additional 2,000 shares during the period. First Hawaiian Bank’s holdings in Pure Storage were worth $1,846,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock valued at $137,628,000 after acquiring an additional 1,730,123 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Pure Storage by 22.5% in the third 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 last quarter. State Street Corp raised its position in shares of Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after purchasing an additional 626,427 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Pure Storage during the 3rd quarter worth about $20,470,000. Finally, FMR LLC boosted its holdings in shares of Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after buying an additional 368,643 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several research analyst reports. Lake Street Capital increased their price target on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. Guggenheim boosted their price target on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Northland Securities reiterated a “market perform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Finally, Morgan Stanley boosted their target price on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the firm’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 value of $1,229,875.76. Following the sale, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the sale, the insider now directly owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 237,178 shares of company stock worth $14,603,746 over the last 90 days. Insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

Pure Storage stock opened at $64.12 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77. Pure Storage, Inc. has a 52 week low of $35.35 and a 52 week high of $70.41. The stock has a market capitalization of $20.92 billion, a P/E ratio of 168.74, a price-to-earnings-growth ratio of 7.69 and a beta of 1.09. The stock has a fifty day moving average of $57.85 and a 200-day moving average of $56.73.

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.