5,083 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by Portfolio Design Labs LLC

Portfolio Design Labs LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,083 shares of the technology company's stock, valued at approximately $312,000.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock worth $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. State Street Corp boosted its stake in shares of Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company's stock valued at $515,596,000 after buying an additional 626,427 shares during the period. Disciplined Growth Investors Inc. MN boosted its stake in shares of Pure Storage by 3.2% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company's stock valued at $285,575,000 after buying an additional 177,559 shares during the period. Geode Capital Management LLC raised its holdings in Pure Storage by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company's stock valued at $269,798,000 after acquiring an additional 219,971 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company's stock valued at $204,163,000 after acquiring an additional 747,034 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on PSTG. Barclays raised their price target on Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 4th. William Blair reiterated an "outperform" rating on shares of Pure Storage in a research note on Thursday, November 14th. Citigroup upped their price target on shares of Pure Storage from $63.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. UBS Group upped their price target on shares of Pure Storage from $45.00 to $47.00 and gave the stock a "sell" rating in a report on Wednesday, December 4th. Finally, Piper Sandler upgraded shares of Pure Storage from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.70.

Pure Storage Stock Performance

Shares of PSTG stock traded up $0.24 on Friday, hitting $67.78. The company had a trading volume of 1,475,224 shares, compared to its average volume of 2,416,183. The firm has a market cap of $22.11 billion, a P/E ratio of 178.38, a P/E/G ratio of 5.26 and a beta of 1.09. The stock's 50-day moving average is $65.73 and its two-hundred day moving average is $57.70. Pure Storage, Inc. has a twelve month low of $38.78 and a twelve month high of $73.67.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the sale, the insider now directly owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the sale, the insider now owns 262,144 shares of the company's stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock worth $8,871,746 over the last ninety days. Insiders own 6.00% of the company's stock.

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.