Raymond James Financial Inc. Invests $70.97 Million in Pure Storage, Inc. (NYSE:PSTG)

Raymond James Financial Inc. acquired a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,155,313 shares of the technology company's stock, valued at approximately $70,971,000. Raymond James Financial Inc. owned 0.35% of Pure Storage as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PSTG. Franklin Resources Inc. raised 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 valued at $137,628,000 after acquiring an additional 1,730,123 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Pure Storage by 22.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company's stock worth $204,163,000 after buying an additional 747,034 shares during the last quarter. State Street Corp grew its stake in Pure Storage by 6.5% in the 3rd 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. World Investment Advisors LLC bought a new position in Pure Storage in the 3rd quarter valued at about $20,470,000. Finally, FMR LLC boosted its holdings in shares of Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock worth $2,469,487,000 after acquiring an additional 368,643 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares of the company's stock, valued at $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PSTG shares. Wells Fargo & Company lifted their price target on Pure Storage from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. 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. Stifel Nicolaus upped their price target on shares of Pure Storage from $60.00 to $65.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. William Blair reaffirmed an "outperform" rating on shares of Pure Storage in a research report on Thursday, November 14th. Finally, Oppenheimer began coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They issued an "outperform" rating and a $70.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Pure Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.20.

Pure Storage Trading Up 0.7 %

NYSE PSTG traded up $0.33 during trading on Thursday, hitting $48.55. 2,793,617 shares of the company's stock were exchanged, compared to its average volume of 2,798,302. The stock's 50 day moving average price is $63.40 and its two-hundred day moving average price is $57.51. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67. The company has a market cap of $15.84 billion, a PE ratio of 127.77, a P/E/G ratio of 5.12 and a beta of 1.09.

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.