Prudential Financial Inc. Has $5.50 Million Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Prudential Financial Inc. raised its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 155.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 89,571 shares of the technology company's stock after purchasing an additional 54,557 shares during the quarter. Prudential Financial Inc.'s holdings in Pure Storage were worth $5,502,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. TT International Asset Management LTD lifted its holdings in shares of Pure Storage by 1,160.1% during the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company's stock worth $3,671,000 after acquiring an additional 67,285 shares during the period. Sycomore Asset Management raised its holdings in shares of 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 buying an additional 68,840 shares in the last quarter. Asio Capital LLC bought a new position in shares of Pure Storage during the 4th quarter worth approximately $264,000. Oak Thistle LLC acquired a new stake in Pure Storage in the 4th quarter valued at $1,196,000. Finally, Bank of Montreal Can grew its position in Pure Storage by 92.0% in the third quarter. Bank of Montreal Can now owns 193,563 shares of the technology company's stock valued at $9,570,000 after acquiring an additional 92,762 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on PSTG shares. StockNews.com cut shares of Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Morgan Stanley boosted their price objective on Pure Storage from $62.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Citigroup lowered their target price on Pure Storage from $80.00 to $77.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Finally, Bank of America decreased their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $73.20.

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Pure Storage Trading Down 8.2 %

PSTG stock traded down $3.35 during trading hours on Friday, hitting $37.50. 2,656,854 shares of the stock were exchanged, compared to its average volume of 3,091,742. The company has a 50-day simple moving average of $57.99 and a two-hundred day simple moving average of $57.25. The firm has a market capitalization of $12.23 billion, a P/E ratio of 99.68, a P/E/G ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 12 month low of $35.95 and a 12 month high of $73.67.

About Pure Storage

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.