Gateway Investment Advisers LLC Takes $3.03 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Gateway Investment Advisers LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 49,288 shares of the technology company's stock, valued at approximately $3,028,000.

Other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in shares of Pure Storage by 210.2% during the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock worth $137,628,000 after purchasing an additional 1,730,123 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Pure Storage by 22.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company's stock worth $204,163,000 after acquiring an additional 747,034 shares in the last quarter. State Street Corp boosted its holdings in Pure Storage by 6.5% in the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company's stock worth $515,596,000 after acquiring an additional 626,427 shares during the period. World Investment Advisors LLC acquired a new stake in Pure Storage in the third quarter valued at approximately $20,470,000. Finally, FMR LLC raised its stake in shares of Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock valued at $2,469,487,000 after purchasing an additional 368,643 shares during the period. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insider Buying and Selling at Pure Storage

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

Pure Storage Stock Up 1.6 %

PSTG stock traded up $1.05 during trading on Friday, reaching $66.47. 1,871,415 shares of the company's stock were exchanged, compared to its average volume of 2,272,399. Pure Storage, Inc. has a 1-year low of $37.26 and a 1-year high of $70.41. The firm has a market cap of $21.69 billion, a PE ratio of 174.94, a P/E/G ratio of 7.81 and a beta of 1.09. The company's fifty day moving average price is $59.63 and its 200-day moving average price is $56.77.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PSTG shares. Oppenheimer assumed coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They issued an "outperform" rating and a $70.00 target price for the company. Lake Street Capital upped their target price on shares of Pure Storage from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. William Blair reiterated an "outperform" rating on shares of Pure Storage in a research note on Thursday, November 14th. Citigroup increased their target price on Pure Storage from $63.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Finally, Evercore ISI raised their price objective on Pure Storage from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Pure Storage has an average rating of "Moderate Buy" and a consensus target price of $72.70.

Pure Storage 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.