Asio Capital LLC Invests $264,000 in Pure Storage, Inc. (NYSE:PSTG)

Asio Capital LLC acquired a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,300 shares of the technology company's stock, valued at approximately $264,000.

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

Insider Activity at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 8,311 shares of the company's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the sale, the chief accounting officer now owns 67,681 shares of the company's stock, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were 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 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 disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock worth $8,871,746 in the last quarter. Company insiders own 6.00% of the company's stock.

Pure Storage Stock Performance

NYSE PSTG traded down $0.22 during trading on Friday, reaching $72.15. The company's stock had a trading volume of 2,097,778 shares, compared to its average volume of 1,965,734. Pure Storage, Inc. has a twelve month low of $38.78 and a twelve month high of $73.67. The firm has a market cap of $23.54 billion, a price-to-earnings ratio of 189.87, a P/E/G ratio of 8.72 and a beta of 1.09. The business's fifty day moving average price is $61.69 and its 200-day moving average price is $56.98.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PSTG. UBS Group upped their price objective on Pure Storage from $45.00 to $47.00 and gave the stock a "sell" rating in a research report on Wednesday, December 4th. Citigroup upped their price target on Pure Storage from $63.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. William Blair reiterated an "outperform" rating on shares of Pure Storage in a research note on Thursday, November 14th. Barclays upped their target price on shares of Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 4th. Finally, 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 note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $72.70.

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.