Commonwealth Equity Services LLC Buys 5,163 Shares of Pure Storage, Inc. (NYSE:PSTG)

Commonwealth Equity Services LLC raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,856 shares of the technology company's stock after buying an additional 5,163 shares during the quarter. Commonwealth Equity Services LLC's holdings in Pure Storage were worth $2,448,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PSTG. Bowen Hanes & Co. Inc. increased its holdings in shares of Pure Storage by 12.5% during the fourth quarter. Bowen Hanes & Co. Inc. now owns 900,000 shares of the technology company's stock worth $55,287,000 after buying an additional 100,000 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Pure Storage by 38.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 258,580 shares of the technology company's stock valued at $16,156,000 after acquiring an additional 71,300 shares during the last quarter. Achmea Investment Management B.V. bought a new position in shares of Pure Storage during the fourth quarter worth $1,973,000. Truvestments Capital LLC grew its position in shares of Pure Storage by 3.0% in the 4th quarter. Truvestments Capital LLC now owns 8,436 shares of the technology company's stock valued at $518,000 after purchasing an additional 249 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Pure Storage by 157.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock valued at $44,000 after purchasing an additional 436 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

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Pure Storage Price Performance

Shares of PSTG traded down $2.45 during trading hours on Friday, hitting $46.00. 3,002,676 shares of the stock were exchanged, compared to its average volume of 3,088,047. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67. The business has a 50-day moving average of $60.09 and a 200-day moving average of $57.50. The firm has a market capitalization of $15.01 billion, a P/E ratio of 121.04, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Insider Activity at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the firm's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the sale, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on PSTG. Evercore ISI lifted their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. UBS Group upped their price objective on Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a report on Thursday, February 27th. Northland Securities reissued a "market perform" rating and set a $63.00 target price (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Citigroup decreased their price target on shares of Pure Storage from $80.00 to $77.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, StockNews.com cut shares of Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $73.20.

Pure Storage Company 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.