MetLife Investment Management LLC Acquires 15,366 Shares of Pure Storage, Inc. (NYSE:PSTG)

MetLife Investment Management LLC boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,206 shares of the technology company's stock after purchasing an additional 15,366 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of Pure Storage worth $11,500,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PSTG. World Investment Advisors lifted its stake in Pure Storage by 1.6% in the fourth quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock valued at $592,000 after acquiring an additional 150 shares during the last quarter. Peapack Gladstone Financial Corp lifted its holdings in shares of Pure Storage by 2.7% during the fourth quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company's stock worth $355,000 after buying an additional 150 shares in the last quarter. HighPoint Advisor Group LLC boosted its holdings in Pure Storage by 2.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company's stock valued at $396,000 after purchasing an additional 157 shares during the period. Parallel Advisors LLC grew its position in Pure Storage by 1.4% during the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock worth $815,000 after buying an additional 186 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. raised its stake in Pure Storage by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company's stock valued at $4,130,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Pure Storage Price Performance

PSTG traded up $2.38 during midday trading on Wednesday, reaching $42.74. 3,146,630 shares of the company's stock were exchanged, compared to its average volume of 3,122,371. The business's 50-day moving average price is $49.26 and its 200 day moving average price is $56.22. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The stock has a market capitalization of $13.93 billion, a PE ratio of 112.48, a P/E/G ratio of 5.12 and a beta of 1.08.

Insider Activity at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,977 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $40.91, for a total value of $285,429.07. Following the sale, the executive now owns 90,223 shares of the company's stock, valued at approximately $3,691,022.93. The trade was a 7.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on PSTG. UBS Group boosted their target price on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, February 27th. 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 restated a "buy" rating and set a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Bank of America decreased their price target on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler decreased their price target on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. 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. According to data from MarketBeat.com, Pure Storage presently has an average rating of "Moderate Buy" and a consensus price target of $70.95.

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.