Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by LPL Financial LLC

LPL Financial LLC grew its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 23.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 96,556 shares of the technology company's stock after purchasing an additional 18,306 shares during the quarter. LPL Financial LLC's holdings in Pure Storage were worth $5,931,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Sugar Maple Asset Management LLC acquired a new stake in Pure Storage during the fourth quarter valued at approximately $29,000. Compass Financial Services Inc acquired a new stake in shares of Pure Storage during the 4th quarter valued at approximately $29,000. Berbice Capital Management LLC bought a new position in Pure Storage during the fourth quarter worth $37,000. Financial Life Planners acquired a new position in Pure Storage in the fourth quarter worth $44,000. Finally, EverSource Wealth Advisors LLC increased its stake in Pure Storage by 157.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock valued at $44,000 after purchasing an additional 436 shares during the last quarter. Institutional investors own 83.42% of the company's stock.

Pure Storage Price Performance

Shares of PSTG traded down $0.89 during midday trading on Friday, reaching $41.03. The stock had a trading volume of 3,781,097 shares, compared to its average volume of 3,137,384. The company has a market capitalization of $13.38 billion, a P/E ratio of 107.98, a P/E/G ratio of 5.12 and a beta of 1.08. The firm's 50 day moving average price is $53.63 and its 200-day moving average price is $56.73. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67.

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Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of Pure Storage from $80.00 to $77.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. StockNews.com cut shares of Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Morgan Stanley upped their target price on Pure Storage from $62.00 to $72.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. Bank of America cut their price target on Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler reduced their price objective on Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a research report on Tuesday. One equities research 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. According to data from MarketBeat.com, Pure Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.05.

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.