T. Rowe Price Investment Management Inc. Has $442.74 Million Holdings in Pure Storage, Inc. (NYSE:PSTG)

T. Rowe Price Investment Management Inc. lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,207,162 shares of the technology company's stock after purchasing an additional 401,035 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 2.21% of Pure Storage worth $442,736,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Barclays PLC boosted its position in Pure Storage by 9.4% in the 3rd quarter. Barclays PLC now owns 316,911 shares of the technology company's stock valued at $15,921,000 after buying an additional 27,345 shares during the last quarter. World Investment Advisors LLC acquired a new position in Pure Storage during the 3rd quarter valued at about $477,000. Wilmington Savings Fund Society FSB acquired a new position in Pure Storage during the 3rd quarter valued at about $119,000. Tidal Investments LLC boosted its stake in shares of Pure Storage by 2.0% in the 3rd quarter. Tidal Investments LLC now owns 69,711 shares of the technology company's stock valued at $3,502,000 after purchasing an additional 1,343 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Pure Storage by 210.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock worth $137,628,000 after buying an additional 1,730,123 shares during the period. 83.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PSTG shares. Citigroup cut their price target on Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Bank of America reduced their target price on Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. UBS Group upped their price target on Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $70.95.

Pure Storage Price Performance

Pure Storage stock opened at $40.37 on Wednesday. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The firm has a market capitalization of $13.16 billion, a P/E ratio of 106.24, a PEG ratio of 5.12 and a beta of 1.08. The business has a fifty day moving average price of $49.76 and a 200-day moving average price of $56.31.

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.

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