Russell Investments Group Ltd. Has $9.77 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Russell Investments Group Ltd. cut its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 36.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,935 shares of the technology company's stock after selling 91,302 shares during the period. Russell Investments Group Ltd.'s holdings in Pure Storage were worth $9,774,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PSTG. Envestnet Asset Management Inc. increased its stake in Pure Storage by 20.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 264,096 shares of the technology company's stock worth $16,223,000 after purchasing an additional 45,152 shares in the last quarter. Aviva PLC boosted its holdings in shares of Pure Storage by 140.5% in the fourth quarter. Aviva PLC now owns 186,756 shares of the technology company's stock worth $11,472,000 after buying an additional 109,089 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in shares of Pure Storage in the fourth quarter worth approximately $5,317,000. Wells Fargo & Company MN raised its holdings in shares of Pure Storage by 3.1% during the fourth quarter. Wells Fargo & Company MN now owns 722,921 shares of the technology company's stock valued at $44,409,000 after acquiring an additional 21,823 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Pure Storage in the 4th quarter valued at approximately $231,000. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Up 1.8 %

Shares of NYSE:PSTG traded up $0.74 during trading on Tuesday, reaching $41.99. The stock had a trading volume of 2,243,599 shares, compared to its average volume of 3,134,301. The stock has a fifty day simple moving average of $53.05 and a two-hundred day simple moving average of $56.72. The firm has a market capitalization of $13.69 billion, a price-to-earnings ratio of 110.49, a P/E/G ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67.

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Analyst Upgrades and Downgrades

Several research firms have weighed in on PSTG. Bank of America lowered their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. 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 report on Monday. UBS Group increased their price objective on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, February 27th. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, Piper Sandler decreased their price target on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $70.95.

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.