Tower Research Capital LLC TRC Purchases 13,137 Shares of Pure Storage, Inc. (NYSE:PSTG)

Tower Research Capital LLC TRC raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 330.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,109 shares of the technology company's stock after acquiring an additional 13,137 shares during the quarter. Tower Research Capital LLC TRC's holdings in Pure Storage were worth $1,051,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PSTG. Sycomore Asset Management raised its stake in Pure Storage by 57.8% during the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company's stock valued at $11,541,000 after purchasing an additional 68,840 shares during the period. Asio Capital LLC bought a new stake in shares of Pure Storage during the fourth quarter valued at approximately $264,000. Oak Thistle LLC purchased a new position in shares of Pure Storage in the fourth quarter worth $1,196,000. Franklin Resources Inc. boosted its position in shares of Pure Storage by 210.2% during the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock worth $137,628,000 after acquiring an additional 1,730,123 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Pure Storage by 23.5% during the fourth quarter. Victory Capital Management Inc. now owns 284,649 shares of the technology company's stock valued at $17,486,000 after acquiring an additional 54,256 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Pure Storage news, CRO Dan Fitzsimons sold 6,977 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the sale, the executive now owns 90,223 shares in the company, valued at $3,691,022.93. This represents a 7.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PSTG shares. Bank of America cut their price objective on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. UBS Group lifted 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. Piper Sandler lowered their target price on Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Needham & Company LLC restated a "buy" rating and issued a $75.00 price target on shares of Pure Storage in a research report on Thursday, February 27th. Finally, StockNews.com lowered shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $70.95.

Pure Storage Trading Up 5.6 %

Shares of Pure Storage stock opened at $45.11 on Friday. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $73.67. The stock's fifty day moving average price is $48.81 and its 200-day moving average price is $56.17. The firm has a market cap of $14.71 billion, a P/E ratio of 118.71, a P/E/G ratio of 5.12 and a beta of 1.08.

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.

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