Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 25.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,748,553 shares of the technology company's stock after buying an additional 1,366,458 shares during the period. Geode Capital Management LLC owned approximately 2.07% of Pure Storage worth $413,982,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HighPoint Advisor Group LLC increased its stake 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 buying an additional 157 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Pure Storage by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 2,566,374 shares of the technology company's stock valued at $157,652,000 after buying an additional 12,972 shares during the period. Wellington Management Group LLP grew its holdings in Pure Storage by 285.2% during the fourth quarter. Wellington Management Group LLP now owns 150,809 shares of the technology company's stock worth $9,264,000 after acquiring an additional 111,655 shares during the period. Clearbridge Investments LLC raised its position in Pure Storage by 27.8% in the fourth quarter. Clearbridge Investments LLC now owns 434,479 shares of the technology company's stock worth $26,690,000 after acquiring an additional 94,417 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Pure Storage by 13.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,696 shares of the technology company's stock worth $302,000 after purchasing an additional 550 shares during the period. Hedge funds and other institutional investors own 83.42% of the company's stock.

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Pure Storage Stock Performance

Shares of NYSE:PSTG traded down $3.32 during trading on Thursday, hitting $41.38. The company's stock had a trading volume of 914,214 shares, compared to its average volume of 2,945,807. The stock's 50-day moving average price is $54.67 and its two-hundred day moving average price is $56.86. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67. The company has a market capitalization of $13.49 billion, a PE ratio of 109.24, a PEG ratio of 5.12 and a beta of 1.08.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PSTG shares. Bank of America lowered their target price on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a report on Thursday, February 27th. Citigroup lowered their target price on Pure Storage from $80.00 to $77.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. UBS Group boosted their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, February 27th. Finally, Morgan Stanley upped their price target on shares of Pure Storage from $62.00 to $72.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. One equities 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $72.05.

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.