Artisan Partners Limited Partnership Purchases New Position in Pure Storage, Inc. (NYSE:PSTG)

Artisan Partners Limited Partnership purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,433,275 shares of the technology company's stock, valued at approximately $210,906,000. Artisan Partners Limited Partnership owned approximately 1.05% of Pure Storage at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PSTG. Sugar Maple Asset Management LLC acquired a new stake in Pure Storage in the 4th quarter valued at about $29,000. Compass Financial Services Inc bought a new stake in shares of Pure Storage during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Pure Storage in the fourth quarter valued at approximately $31,000. Larson Financial Group LLC raised its position in 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 purchasing an additional 212 shares during the last quarter. Finally, Berbice Capital Management LLC acquired a new position in Pure Storage during the 4th quarter worth $37,000. Institutional investors own 83.42% of the company's stock.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the firm's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the sale, the insider now directly owns 262,144 shares of the company's stock, valued at $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 SEC, which is available at this link. Corporate insiders own 6.00% of the company's stock.

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Pure Storage Stock Down 3.8 %

Shares of NYSE:PSTG traded down $1.77 during midday trading on Monday, hitting $44.24. The stock had a trading volume of 931,729 shares, compared to its average volume of 2,758,452. The company has a market cap of $14.43 billion, a P/E ratio of 116.41, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $43.70 and a 12 month high of $73.67. The business's 50-day simple moving average is $60.09 and its 200-day simple moving average is $57.50.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. 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 report on Thursday, February 27th. Piper Sandler upgraded shares of Pure Storage from a "neutral" rating to an "overweight" rating and upped their target price for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. TD Cowen lifted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Barclays increased their price objective on shares of Pure Storage from $56.00 to $61.00 and gave the company an "equal weight" rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. One 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 MarketBeat.com, Pure Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.20.

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.