Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by RWA Wealth Partners LLC

RWA Wealth Partners LLC lifted its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 39.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,034 shares of the technology company's stock after buying an additional 15,357 shares during the period. RWA Wealth Partners LLC's holdings in Pure Storage were worth $3,319,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PSTG. Norges Bank acquired a new stake in Pure Storage in the fourth quarter worth about $216,690,000. Artisan Partners Limited Partnership purchased a new position in shares of Pure Storage in the 4th quarter valued at approximately $210,906,000. William Blair Investment Management LLC boosted its stake in Pure Storage by 1,725.3% in the 4th quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company's stock worth $155,124,000 after purchasing an additional 2,386,864 shares in the last quarter. Franklin Resources Inc. boosted its stake in Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock worth $137,628,000 after purchasing an additional 1,730,123 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Pure Storage during the 4th quarter worth approximately $70,971,000. Institutional investors own 83.42% of the company's stock.

Pure Storage Stock Performance

Shares of Pure Storage stock traded down $3.82 on Friday, hitting $37.03. The company's stock had a trading volume of 5,134,969 shares, compared to its average volume of 3,099,287. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 97.45, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 1 year low of $35.95 and a 1 year high of $73.67. The firm has a fifty day moving average price of $57.29 and a 200-day moving average price of $57.17.

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Analyst Upgrades and Downgrades

Several research firms have recently commented on PSTG. Needham & Company LLC reiterated a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. Bank of America reduced their target price on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Morgan Stanley boosted their price target on Pure Storage from $62.00 to $72.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 17th. Citigroup reduced their price objective on Pure Storage from $80.00 to $77.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, 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 report on Thursday, February 27th. One equities 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $73.20.

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.