Schroder Investment Management Group Reduces Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Schroder Investment Management Group lowered its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 732,231 shares of the technology company's stock after selling 66,779 shares during the period. Schroder Investment Management Group owned approximately 0.22% of Pure Storage worth $45,750,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PSTG. Allstate Corp acquired a new stake in Pure Storage in the fourth quarter worth $546,000. New Age Alpha Advisors LLC acquired a new position in Pure Storage in the 4th quarter worth about $4,145,000. Norges Bank acquired a new position in Pure Storage during the fourth quarter worth $216,690,000. Blair William & Co. IL raised its stake in shares of Pure Storage by 10.2% in the 4th quarter. Blair William & Co. IL now owns 3,444,714 shares of the technology company's stock valued at $211,609,000 after acquiring an additional 317,712 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Pure Storage in the 4th quarter worth $569,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Pure Storage Stock Performance

NYSE PSTG traded up $0.67 during trading on Wednesday, reaching $46.06. 2,404,742 shares of the company's stock were exchanged, compared to its average volume of 3,094,129. The company has a 50 day moving average price of $58.63 and a two-hundred day moving average price of $57.37. The stock has a market cap of $15.03 billion, a P/E ratio of 121.21, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 1 year low of $43.63 and a 1 year high of $73.67.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Northland Securities reaffirmed a "market perform" rating and set a $63.00 price objective (up from $59.00) on shares of Pure Storage 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 stock a "buy" rating in a report on Wednesday, December 4th. Barclays raised their price objective on shares of Pure Storage from $56.00 to $61.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a 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 assigned a buy rating to the company. According to data from MarketBeat, Pure Storage has an average rating of "Moderate Buy" and a consensus target price 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.