Rhumbline Advisers Boosts Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Rhumbline Advisers increased its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 909,959 shares of the technology company's stock after buying an additional 4,192 shares during the period. Rhumbline Advisers owned 0.28% of Pure Storage worth $55,899,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock worth $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. State Street Corp raised its stake in Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company's stock valued at $515,596,000 after buying an additional 626,427 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Pure Storage by 3.2% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company's stock worth $285,575,000 after acquiring an additional 177,559 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Pure Storage by 4.3% in the third quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company's stock worth $269,798,000 after acquiring an additional 219,971 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Pure Storage by 22.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company's stock valued at $204,163,000 after acquiring an additional 747,034 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSTG. Needham & Company LLC increased their price objective on shares of Pure Storage from $62.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. UBS Group increased their price target on shares of Pure Storage from $45.00 to $47.00 and gave the company a "sell" rating in a report on Wednesday, December 4th. Citigroup boosted their price objective on shares of Pure Storage from $63.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Lake Street Capital upped their price objective on Pure Storage from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Finally, TD Cowen lifted their target price on Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $72.70.

Pure Storage Price Performance

Shares of NYSE:PSTG traded down $0.01 during trading on Thursday, hitting $67.88. 1,665,372 shares of the company's stock were exchanged, compared to its average volume of 2,288,781. The business's 50-day simple moving average is $66.10 and its 200 day simple moving average is $57.94. Pure Storage, Inc. has a 52-week low of $38.78 and a 52-week high of $73.67. The company has a market cap of $22.15 billion, a price-to-earnings ratio of 178.64, a PEG ratio of 5.20 and a beta of 1.09.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 262,144 shares in the company, valued at $16,142,827.52. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mona Chu sold 8,311 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the transaction, the chief accounting officer now directly owns 67,681 shares of the company's stock, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,178 shares of company stock valued at $8,871,746 in the last three months. 6.00% of the stock is currently owned by corporate insiders.

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.