GAM Holding AG Invests $5,392,000 in Pure Storage Inc. (PSTG)
GAM Holding AG purchased a new position in Pure Storage Inc. (NYSE:PSTG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 398,068 shares of the company’s stock, valued at approximately $5,392,000.
Other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates bought a new position in Pure Storage during the second quarter valued at about $133,000. State Board of Administration of Florida Retirement System bought a new position in Pure Storage during the second quarter valued at about $140,000. Royal Bank of Canada boosted its position in Pure Storage by 5,486.4% in the second quarter. Royal Bank of Canada now owns 13,966 shares of the company’s stock valued at $152,000 after buying an additional 13,716 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in Pure Storage during the second quarter valued at about $195,000. Finally, Barclays PLC boosted its position in Pure Storage by 26.9% in the second quarter. Barclays PLC now owns 18,150 shares of the company’s stock valued at $198,000 after buying an additional 3,850 shares in the last quarter. Institutional investors own 49.91% of the company’s stock.
Pure Storage Inc. (NYSE:PSTG) traded down 2.17% on Wednesday, hitting $13.95. The stock had a trading volume of 2,073,034 shares. The company has a 50-day moving average of $13.21 and a 200 day moving average of $12.59. Pure Storage Inc. has a 12 month low of $9.62 and a 12 month high of $18.39. The company’s market cap is $2.74 billion.
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Several equities analysts have issued reports on PSTG shares. Wells Fargo & Co. started coverage on shares of Pure Storage in a research note on Tuesday, August 2nd. They set a “market perform” rating on the stock. Vetr cut shares of Pure Storage from a “hold” rating to a “sell” rating and set a $13.00 target price on the stock. in a research note on Tuesday, August 9th. Robert W. Baird restated a “neutral” rating and set a $12.00 target price on shares of Pure Storage in a research note on Monday, August 22nd. Barclays PLC upped their target price on shares of Pure Storage from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, August 26th. Finally, William Blair restated an “outperform” rating on shares of Pure Storage in a research note on Friday, August 26th. Ten equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $16.26.
In related news, CFO Timothy Riitters sold 3,231 shares of Pure Storage stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $13.50, for a total transaction of $43,618.50. Following the completion of the sale, the chief financial officer now owns 31,769 shares of the company’s stock, valued at $428,881.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 46.58% of the company’s stock.
About Pure Storage
Pure Storage, Inc provides an enterprise data storage platform. The Company’s storage platform consists of approximately three integrated components, including the Purity Operating Environment, which is its flash-optimized software; FlashArray, which is its modular and scalable all-flash array hardware, and Pure1, which is its cloud-based management and support.
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