Sei Investments Co. Has $30.32 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

Sei Investments Co. increased its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 90.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 493,597 shares of the technology company's stock after purchasing an additional 234,478 shares during the period. Sei Investments Co. owned approximately 0.15% of Pure Storage worth $30,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in shares of Pure Storage by 262.4% during the fourth quarter. American Century Companies Inc. now owns 893,410 shares of the technology company's stock worth $54,882,000 after buying an additional 646,875 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Pure Storage by 119.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 69,676 shares of the technology company's stock valued at $4,280,000 after purchasing an additional 37,946 shares during the period. Whittier Trust Co. boosted its holdings in Pure Storage by 123.1% in the 4th quarter. Whittier Trust Co. now owns 132,618 shares of the technology company's stock valued at $8,147,000 after purchasing an additional 73,188 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Pure Storage by 0.9% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 68,753 shares of the technology company's stock worth $4,223,000 after purchasing an additional 645 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Pure Storage by 103.7% during the fourth quarter. Royal London Asset Management Ltd. now owns 142,560 shares of the technology company's stock worth $8,757,000 after purchasing an additional 72,568 shares during the period. 83.42% of the stock is currently owned by institutional investors.

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Insider Activity

In other news, insider Ajay Singh sold 19,972 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares of the company's stock, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays increased their price target on Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 4th. Lake Street Capital increased their target price on Pure Storage from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. 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. UBS Group upped 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Pure Storage from $60.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.20.

Pure Storage Price Performance

NYSE PSTG traded down $2.45 during trading hours on Friday, reaching $46.00. The company's stock had a trading volume of 3,002,676 shares, compared to its average volume of 3,088,047. The firm has a fifty day simple moving average of $60.09 and a 200-day simple moving average of $57.43. Pure Storage, Inc. has a 52 week low of $44.76 and a 52 week high of $73.67. The stock has a market cap of $15.01 billion, a P/E ratio of 121.04, a P/E/G ratio of 5.12 and a beta of 1.09.

About Pure Storage

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.