Plato Investment Management Ltd purchased a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,304 shares of the technology company's stock, valued at approximately $574,000.
Other hedge funds have also modified their holdings of the company. Citigroup Inc. lifted its holdings in Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company's stock valued at $7,235,000 after purchasing an additional 14,659 shares in the last quarter. TT International Asset Management LTD lifted its stake in shares of Pure Storage by 1,160.1% during the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company's stock valued at $3,671,000 after buying an additional 67,285 shares during the period. FMR LLC boosted its position in Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock worth $2,469,487,000 after acquiring an additional 368,643 shares during the last quarter. Sycomore Asset Management grew its stake in Pure Storage by 57.8% in the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company's stock worth $11,541,000 after acquiring an additional 68,840 shares during the period. Finally, Asio Capital LLC purchased a new stake in Pure Storage in the 4th quarter worth approximately $264,000. 83.42% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PSTG has been the topic of a number of recent analyst reports. UBS Group increased their price target on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, February 27th. Stifel Nicolaus raised their price target on Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. Evercore ISI lifted their price target on Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Finally, Bank of America lowered their target price on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. One 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. Based on data from MarketBeat, Pure Storage currently has a consensus rating of "Moderate Buy" and an average target price of $73.20.
Get Our Latest Report on PSTG
Pure Storage Price Performance
PSTG traded up $0.42 during trading hours on Friday, reaching $49.34. 3,681,555 shares of the stock traded hands, compared to its average volume of 2,778,101. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 129.83, a PEG ratio of 5.12 and a beta of 1.09. The firm's fifty day simple moving average is $64.22 and its two-hundred day simple moving average is $57.82.
Insider Buying and Selling at Pure Storage
In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares in the company, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,178 shares of company stock valued at $2,316,746 in the last ninety days. Insiders own 6.00% of the company's stock.
Pure Storage Profile
(
Free Report)
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.
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