Pure Storage, Inc. (NYSE:PSTG) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 27.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 434,479 shares of the technology company's stock after acquiring an additional 94,417 shares during the period. Clearbridge Investments LLC owned about 0.13% of Pure Storage worth $26,690,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PSTG. TT International Asset Management LTD grew its holdings in shares of Pure Storage by 1,160.1% in the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company's stock worth $3,671,000 after purchasing an additional 67,285 shares during the last quarter. Sycomore Asset Management grew its stake in Pure Storage by 57.8% in the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company's stock worth $11,541,000 after acquiring an additional 68,840 shares in the last quarter. Asio Capital LLC bought a new position in Pure Storage in the 4th quarter worth about $264,000. Oak Thistle LLC purchased a new position in shares of Pure Storage during the fourth quarter worth approximately $1,196,000. Finally, Franklin Resources Inc. raised its stake in shares of Pure Storage by 210.2% during the third 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. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PSTG. JPMorgan Chase & Co. upped their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Lake Street Capital upped their price target on shares of Pure Storage from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Piper Sandler raised shares of Pure Storage from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $56.00 to $76.00 in a report on Wednesday, December 4th. UBS Group upped their target price on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a report on Thursday, February 27th. Finally, Evercore ISI lifted their price target on Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Pure Storage presently has an average rating of "Moderate Buy" and a consensus target price of $73.20.

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Pure Storage Price Performance

NYSE PSTG traded down $5.20 during mid-day trading on Thursday, hitting $40.82. The stock had a trading volume of 3,300,046 shares, compared to its average volume of 3,092,781. The firm's 50 day moving average is $58.63 and its 200 day moving average is $57.37. The stock has a market capitalization of $13.32 billion, a price-to-earnings ratio of 107.41, a PEG ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a twelve month low of $40.76 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.