California Public Employees Retirement System Sells 39,397 Shares of Pure Storage, Inc. (NYSE:PSTG)

California Public Employees Retirement System reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 483,426 shares of the technology company's stock after selling 39,397 shares during the quarter. California Public Employees Retirement System owned 0.15% of Pure Storage worth $29,697,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Pure Storage by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company's stock worth $2,054,448,000 after purchasing an additional 615,931 shares during the last quarter. State Street Corp grew its position in Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company's stock valued at $515,596,000 after acquiring an additional 626,427 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in Pure Storage by 3.2% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company's stock worth $285,575,000 after acquiring an additional 177,559 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Pure Storage by 4.3% in the third quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company's stock worth $269,798,000 after acquiring an additional 219,971 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Pure Storage in the 4th quarter valued at approximately $216,690,000. Institutional investors own 83.42% of the company's stock.

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Pure Storage Stock Performance

Shares of PSTG stock traded up $1.51 during trading hours on Tuesday, hitting $40.01. 866,241 shares of the company were exchanged, compared to its average volume of 3,103,066. The company has a 50 day simple moving average of $56.76 and a two-hundred day simple moving average of $57.19. The firm has a market cap of $13.04 billion, a P/E ratio of 104.89, a P/E/G ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup dropped their price objective on shares of Pure Storage from $80.00 to $77.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. UBS Group boosted their price objective 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 cut their price target on Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. Finally, Bank of America cut their target price on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $72.05.

Pure Storage Company 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.