Geode Capital Management LLC Grows Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Geode Capital Management LLC grew its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 4.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,382,095 shares of the technology company's stock after acquiring an additional 219,971 shares during the period. Geode Capital Management LLC owned about 1.64% of Pure Storage worth $269,798,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Larson Financial Group LLC raised its position in Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company's stock valued at $28,000 after purchasing an additional 306 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage in the 3rd quarter valued at $31,000. ORG Partners LLC acquired a new position in Pure Storage during the 2nd quarter worth about $35,000. Venturi Wealth Management LLC boosted its holdings in Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock valued at $38,000 after acquiring an additional 219 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Pure Storage by 174.4% during the 2nd quarter. Blue Trust Inc. now owns 741 shares of the technology company's stock valued at $48,000 after acquiring an additional 471 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Up 1.9 %

NYSE:PSTG traded up $1.18 during midday trading on Friday, hitting $63.70. 3,645,944 shares of the company were exchanged, compared to its average volume of 3,354,581. 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 fifty-two week low of $34.32 and a fifty-two week high of $70.41. The company has a market capitalization of $20.87 billion, a PE ratio of 167.64, a price-to-earnings-growth ratio of 7.69 and a beta of 1.13. The company has a fifty day simple moving average of $54.29 and a 200 day simple moving average of $56.84.

Insider Transactions at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 20,647 shares of the firm's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the transaction, the chief accounting officer now directly owns 75,992 shares of the company's stock, valued at approximately $3,913,588. This trade represents a 21.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the transaction, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 454,542 shares of company stock worth $25,154,030. Corporate insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PSTG shares. Stifel Nicolaus increased their price target on shares of Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. increased their target price on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Barclays raised their price target 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. Needham & Company LLC upped their price objective on Pure Storage from $62.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Oppenheimer initiated coverage on Pure Storage in a research note on Wednesday, November 13th. They issued an "outperform" rating and a $70.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $72.10.

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.