Bessemer Group Inc. Boosts Holdings in Pure Storage, Inc. (NYSE:PSTG)

Bessemer Group Inc. lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 13.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,856 shares of the technology company's stock after purchasing an additional 10,326 shares during the period. Bessemer Group Inc.'s holdings in Pure Storage were worth $5,397,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Advisory Services Network LLC boosted its stake in Pure Storage by 54.5% during the fourth quarter. Advisory Services Network LLC now owns 14,421 shares of the technology company's stock worth $886,000 after buying an additional 5,087 shares during the last quarter. Abacus FCF Advisors LLC boosted its position in shares of Pure Storage by 46.5% during the 4th quarter. Abacus FCF Advisors LLC now owns 64,808 shares of the technology company's stock valued at $3,981,000 after acquiring an additional 20,584 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Pure Storage during the 4th quarter valued at about $324,000. Invesco Ltd. grew its holdings in shares of Pure Storage by 18.8% in the fourth quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company's stock valued at $255,677,000 after purchasing an additional 657,175 shares during the period. Finally, Peapack Gladstone Financial Corp raised its stake in Pure Storage by 2.7% during the fourth quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company's stock worth $355,000 after purchasing an additional 150 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PSTG shares. UBS Group raised their price target on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a report on Thursday, February 27th. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 price target on shares of Pure Storage in a research note on Thursday, February 27th. Piper Sandler cut their price objective on Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Citigroup decreased their target price on shares of Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, Pure Storage currently has an average rating of "Moderate Buy" and a consensus price target of $70.95.

Pure Storage Trading Up 1.8 %

Shares of PSTG stock traded up $0.74 on Tuesday, reaching $41.99. 2,243,599 shares of the stock were exchanged, compared to its average volume of 3,134,475. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 110.49, a PEG ratio of 5.12 and a beta of 1.08. The business's 50 day moving average price is $53.05 and its 200 day moving average price is $56.72. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve 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.