Invesco Ltd. Grows Stake in Pure Storage, Inc. (NYSE:PSTG)

Invesco Ltd. raised its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,162,081 shares of the technology company's stock after acquiring an additional 657,175 shares during the quarter. Invesco Ltd. owned approximately 1.28% of Pure Storage worth $255,677,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PSTG. Peapack Gladstone Financial Corp grew its position in shares of Pure Storage by 2.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company's stock valued at $355,000 after buying an additional 150 shares during the last quarter. MIG Capital LLC acquired a new position in shares of Pure Storage in the fourth quarter worth approximately $332,000. Envestnet Asset Management Inc. boosted its holdings in Pure Storage by 20.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 264,096 shares of the technology company's stock valued at $16,223,000 after acquiring an additional 45,152 shares during the last quarter. Aviva PLC increased its position in Pure Storage by 140.5% during the 4th quarter. Aviva PLC now owns 186,756 shares of the technology company's stock valued at $11,472,000 after purchasing an additional 109,089 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new position in Pure Storage during the 4th quarter worth approximately $5,317,000. Institutional investors own 83.42% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PSTG. StockNews.com downgraded shares of Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. Piper Sandler dropped 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, April 8th. Morgan Stanley raised their price objective on shares of Pure Storage from $62.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 17th. Finally, Citigroup decreased their price target on shares of Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $70.95.

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Pure Storage Stock Down 1.0 %

Shares of NYSE:PSTG traded down $0.42 during midday trading on Wednesday, reaching $41.53. 439,975 shares of the company traded hands, compared to its average volume of 2,945,018. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $73.67. The firm's fifty day moving average price is $52.50 and its two-hundred day moving average price is $56.62. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 109.30, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08.

Pure Storage 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.