Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 20.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 264,096 shares of the technology company's stock after purchasing an additional 45,152 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of Pure Storage worth $16,223,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PSTG. Aviva PLC grew its stake in shares of Pure Storage by 140.5% in the 4th quarter. Aviva PLC now owns 186,756 shares of the technology company's stock valued at $11,472,000 after buying an additional 109,089 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in Pure Storage in the fourth quarter worth approximately $5,317,000. Wells Fargo & Company MN raised its position in Pure Storage by 3.1% in the fourth quarter. Wells Fargo & Company MN now owns 722,921 shares of the technology company's stock valued at $44,409,000 after purchasing an additional 21,823 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of Pure Storage in the 4th quarter valued at $231,000. Finally, Arete Wealth Advisors LLC purchased a new stake in Pure Storage in the 4th quarter valued at about $235,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Pure Storage Stock Performance

Shares of PSTG stock traded up $0.53 during mid-day trading on Friday, hitting $41.79. 2,606,810 shares of the stock were exchanged, compared to its average volume of 3,127,334. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 109.97, a P/E/G ratio of 5.12 and a beta of 1.08. The stock's fifty day simple moving average is $51.36 and its two-hundred day simple moving average is $56.46.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of research analyst reports. StockNews.com lowered Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Citigroup lowered their target price on Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a report on Monday. UBS Group increased their price target 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. Piper Sandler reduced their target price on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Bank of America dropped their price target on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Pure Storage has an average rating of "Moderate Buy" and a consensus target price of $70.95.

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.