American Century Companies Inc. Has $54.88 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

American Century Companies Inc. boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 262.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 893,410 shares of the technology company's stock after purchasing an additional 646,875 shares during the quarter. American Century Companies Inc. owned 0.27% of Pure Storage worth $54,882,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Pure Storage during the fourth quarter worth about $29,000. Compass Financial Services Inc bought a new position in Pure Storage in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC boosted its holdings in shares of Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock valued at $32,000 after buying an additional 212 shares during the period. Berbice Capital Management LLC bought a new stake in shares of Pure Storage during the fourth quarter worth $37,000. Finally, Financial Life Planners acquired a new position in Pure Storage in the 4th quarter worth $44,000. Institutional investors own 83.42% of the company's stock.

Insider Transactions at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares of the company's stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.00% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler raised Pure Storage from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Northland Securities reaffirmed a "market perform" rating and set a $63.00 price target (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus boosted their price target on shares of Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.20.

Pure Storage Stock Down 5.0 %

Shares of PSTG traded down $2.45 during trading hours on Friday, hitting $46.00. The company had a trading volume of 3,002,676 shares, compared to its average volume of 3,088,047. The firm has a market cap of $15.01 billion, a price-to-earnings ratio of 121.04, a PEG ratio of 5.12 and a beta of 1.09. The business has a fifty day moving average of $60.09 and a 200-day moving average of $57.50. Pure Storage, Inc. has a 12 month low of $44.76 and a 12 month high of $73.67.

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.