Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC raised its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 46.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,808 shares of the technology company's stock after acquiring an additional 20,584 shares during the quarter. Abacus FCF Advisors LLC's holdings in Pure Storage were worth $3,981,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. TT International Asset Management LTD grew its stake in Pure Storage by 1,160.1% in the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company's stock valued at $3,671,000 after purchasing an additional 67,285 shares during the last quarter. Sycomore Asset Management boosted its holdings in shares of Pure Storage by 57.8% in the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company's stock valued at $11,541,000 after buying an additional 68,840 shares in the last quarter. Asio Capital LLC bought a new stake in shares of Pure Storage in the 4th quarter valued at about $264,000. Oak Thistle LLC purchased a new position in shares of Pure Storage in the 4th quarter worth approximately $1,196,000. Finally, Franklin Resources Inc. raised its stake in shares of Pure Storage by 210.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock worth $137,628,000 after acquiring an additional 1,730,123 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Bank of America cut their price target on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. UBS Group boosted their target price on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, February 27th. Citigroup decreased their price target on Pure Storage from $80.00 to $77.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $75.00 price target on shares of Pure Storage in a research note on Thursday, February 27th. Finally, StockNews.com lowered shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $72.05.

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Pure Storage Trading Down 2.1 %

Pure Storage stock traded down $0.89 during mid-day trading on Friday, hitting $41.03. The company had a trading volume of 3,781,097 shares, compared to its average volume of 3,139,074. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of 107.98, a P/E/G ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67. The company's fifty day moving average is $53.63 and its 200-day moving average is $56.78.

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.