Charles Schwab Investment Management Inc. increased its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,375,649 shares of the technology company's stock after acquiring an additional 81,907 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.42% of Pure Storage worth $84,506,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new position in shares of Pure Storage during the 4th quarter valued at about $29,000. Compass Financial Services Inc acquired a new position in shares of Pure Storage during the 4th quarter valued at about $29,000. Berbice Capital Management LLC acquired a new position in Pure Storage in the fourth quarter valued at about $37,000. Larson Financial Group LLC lifted its position in 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 last quarter. Finally, Financial Life Planners acquired a new position in Pure Storage in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 83.42% of the company's stock.
Pure Storage Price Performance
Shares of PSTG stock traded up $0.33 during trading hours on Thursday, reaching $48.55. 2,795,829 shares of the stock were exchanged, compared to its average volume of 2,810,563. The firm has a market capitalization of $15.84 billion, a P/E ratio of 127.77, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 12-month low of $44.76 and a 12-month high of $73.67. The business's fifty day moving average is $63.13 and its two-hundred day moving average is $57.45.
Insider Buying and Selling at Pure Storage
In other news, insider Ajay Singh sold 19,972 shares of the 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 approximately $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the sale, the executive now directly owns 72,927 shares of the company's stock, valued at approximately $4,675,349.97. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Barclays upped their target price on shares of Pure Storage from $56.00 to $61.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 4th. UBS Group upped their target price on shares of Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a research report on Thursday, February 27th. StockNews.com cut shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Bank of America decreased 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. Finally, Oppenheimer assumed coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They issued an "outperform" rating and a $70.00 target price on the stock. One 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.20.
Read Our Latest Analysis on PSTG
Pure Storage Profile
(
Free Report)
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.
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