Thrivent Financial for Lutherans Grows Stake in Pure Storage, Inc. (NYSE:PSTG)

Thrivent Financial for Lutherans boosted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 SEC filing.

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

Analyst Ratings Changes

Several brokerages have issued reports on PSTG. Bank of America decreased their price objective on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their price target on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. TD Cowen upped their price objective on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Stifel Nicolaus lifted their target price on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Barclays upped their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.20.

Insider Activity

In other news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 6.00% of the company’s stock.

Pure Storage Stock Up 3.4 %

NYSE:PSTG opened at $52.89 on Tuesday. 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 52 week low of $44.76 and a 52 week high of $73.67. The firm has a 50 day moving average of $61.33 and a 200 day moving average of $57.42.

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.