Pinebridge Investments L.P. Has $13.85 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

Pinebridge Investments L.P. boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 45.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 225,412 shares of the technology company's stock after purchasing an additional 70,443 shares during the quarter. Pinebridge Investments L.P. owned 0.07% of Pure Storage worth $13,847,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new position in Pure Storage in the fourth quarter valued at about $29,000. Compass Financial Services Inc bought a new stake in Pure Storage during the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in Pure Storage during the 4th quarter worth approximately $31,000. Berbice Capital Management LLC bought a new position in Pure Storage in the fourth quarter valued at approximately $37,000. Finally, Financial Life Planners acquired a new position in shares of Pure Storage in the fourth quarter valued at approximately $44,000. Institutional investors own 83.42% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on PSTG shares. Citigroup dropped their price target on Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Piper Sandler reduced their price target on Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. 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. Bank of America decreased their target price on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, StockNews.com cut shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Pure Storage currently has an average rating of "Moderate Buy" and an average price target of $70.95.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 6,977 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the completion of the sale, the executive now owns 90,223 shares of the company's stock, valued at $3,691,022.93. The trade was a 7.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Trading Up 1.3 %

Shares of NYSE:PSTG traded up $0.58 during trading on Friday, reaching $45.71. 1,806,817 shares of the stock were exchanged, compared to its average volume of 3,118,808. The firm has a market cap of $14.90 billion, a PE ratio of 120.29, a PEG ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $73.67. The stock has a 50-day moving average price of $48.34 and a 200-day moving average price of $56.15.

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.