Disciplined Growth Investors Inc. MN Has $285.58 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

Disciplined Growth Investors Inc. MN grew its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,684,218 shares of the technology company's stock after buying an additional 177,559 shares during the period. Pure Storage accounts for about 5.4% of Disciplined Growth Investors Inc. MN's holdings, making the stock its 3rd biggest holding. Disciplined Growth Investors Inc. MN owned 1.73% of Pure Storage worth $285,575,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CWM LLC boosted its position in shares of Pure Storage by 37.0% during the 2nd quarter. CWM LLC now owns 8,252 shares of the technology company's stock valued at $530,000 after purchasing an additional 2,228 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Pure Storage by 97.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,974 shares of the technology company's stock worth $769,000 after purchasing an additional 5,918 shares during the period. ORG Partners LLC purchased a new stake in Pure Storage during the second quarter worth about $35,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Pure Storage during the 2nd quarter valued at approximately $748,000. Finally, Baader Bank Aktiengesellschaft lifted its stake in Pure Storage by 103.7% in the second quarter. Baader Bank Aktiengesellschaft now owns 10,000 shares of the technology company's stock valued at $642,000 after purchasing an additional 282,000 shares during the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on PSTG. Wells Fargo & Company increased their price target on Pure Storage from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Wedbush reaffirmed an "outperform" rating and issued a $80.00 price objective on shares of Pure Storage in a report on Monday, August 26th. Guggenheim boosted their target price on shares of Pure Storage from $72.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Citigroup lifted their price target on Pure Storage from $63.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Finally, Susquehanna reiterated a "positive" rating and set a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.10.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Wednesday, December 4th. The stock was 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 of the company's stock, valued at $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the transaction, the executive now directly owns 94,446 shares in the company, valued at $4,785,578.82. The trade was a 8.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 454,542 shares of company stock worth $25,154,030. Insiders own 6.00% of the company's stock.

Pure Storage Trading Down 5.1 %

NYSE PSTG traded down $3.28 during trading on Tuesday, hitting $60.53. The company had a trading volume of 1,948,633 shares, compared to its average volume of 3,675,502. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a one year low of $32.54 and a one year high of $70.41. The company's fifty day moving average is $53.31 and its 200-day moving average is $56.84. The company has a market cap of $19.84 billion, a price-to-earnings ratio of 167.87, a price-to-earnings-growth ratio of 7.83 and a beta of 1.13.

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.