Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Korea Investment CORP

Korea Investment CORP increased its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 38.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 314,582 shares of the technology company's stock after purchasing an additional 86,987 shares during the period. Korea Investment CORP owned 0.10% of Pure Storage worth $19,325,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Pure Storage during the fourth quarter worth about $29,000. Compass Financial Services Inc acquired a new stake in Pure Storage during the 4th quarter valued at approximately $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Pure Storage in the 4th quarter valued at $31,000. Berbice Capital Management LLC purchased a new position in shares of Pure Storage during the fourth quarter worth $37,000. Finally, Larson Financial Group LLC lifted its position in Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock valued at $32,000 after purchasing an additional 212 shares during the period. Hedge funds and other institutional investors own 83.42% of the company's stock.

Pure Storage Price Performance

NYSE PSTG traded down $5.08 during trading hours on Thursday, hitting $40.93. 612,230 shares of the company's stock traded hands, compared to its average volume of 2,779,124. The firm's 50-day moving average is $58.63 and its 200-day moving average is $57.37. Pure Storage, Inc. has a 52-week low of $40.82 and a 52-week high of $73.67. The company has a market capitalization of $13.35 billion, a PE ratio of 107.71, a PEG ratio of 5.12 and a beta of 1.08.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PSTG shares. Barclays lifted their price objective on Pure Storage from $56.00 to $61.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 4th. Piper Sandler raised Pure Storage from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $56.00 to $76.00 in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on shares of Pure Storage from $75.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, Northland Securities reissued a "market perform" rating and set a $63.00 price target (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $73.20.

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.