First Trust Advisors LP grew its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,118,774 shares of the technology company's stock after purchasing an additional 91,368 shares during the quarter. First Trust Advisors LP owned approximately 0.96% of Pure Storage worth $191,586,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. World Investment Advisors lifted its holdings in shares of Pure Storage by 1.6% during the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock valued at $592,000 after purchasing an additional 150 shares during the last quarter. Peapack Gladstone Financial Corp raised its stake in Pure Storage by 2.7% in the fourth quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company's stock valued at $355,000 after buying an additional 150 shares during the last quarter. HighPoint Advisor Group LLC boosted its holdings in Pure Storage by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company's stock worth $396,000 after acquiring an additional 157 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of 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 acquiring an additional 186 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. raised its position in shares of Pure Storage by 0.3% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.
Analyst Ratings Changes
A number of brokerages have issued reports on PSTG. Piper Sandler cut their price target on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup cut their target price on Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. UBS Group lifted their price target on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, February 27th. Bank of America cut their price objective 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, Needham & Company LLC reiterated a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a research report on Thursday, February 27th. One 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.95.
Read Our Latest Stock Analysis on Pure Storage
Insider Activity at Pure Storage
In other Pure Storage news, CRO Dan Fitzsimons sold 6,977 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the transaction, the executive now directly owns 90,223 shares of the company's stock, valued at $3,691,022.93. This trade represents a 7.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.00% of the company's stock.
Pure Storage Stock Performance
NYSE PSTG traded up $2.39 during mid-day trading on Thursday, reaching $45.11. 1,949,460 shares of the stock were exchanged, compared to its average volume of 3,117,700. The business's fifty day simple moving average is $49.26 and its 200 day simple moving average 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 $14.71 billion, a PE ratio of 118.71, a PEG ratio of 5.12 and a beta of 1.08.
Pure Storage Company Profile
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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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