Townsquare Capital LLC Increases Holdings in Pure Storage, Inc. (NYSE:PSTG)

Townsquare Capital LLC lifted its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 80,480 shares of the technology company's stock after purchasing an additional 7,036 shares during the quarter. Townsquare Capital LLC's holdings in Pure Storage were worth $4,944,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new stake in shares of Pure Storage in the fourth quarter worth about $29,000. Compass Financial Services Inc bought a new position in shares of Pure Storage in the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Pure Storage during the 4th quarter worth approximately $31,000. Berbice Capital Management LLC acquired a new stake in Pure Storage in the fourth quarter valued at $37,000. Finally, Financial Life Planners acquired a new position in shares of Pure Storage during the 4th quarter worth about $44,000. 83.42% of the stock is owned by institutional investors.

Pure Storage Trading Up 1.3 %

NYSE PSTG traded up $0.53 on Friday, reaching $41.79. 2,606,810 shares of the stock were exchanged, compared to its average volume of 3,127,334. 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 $13.62 billion, a PE ratio of 109.97, a PEG ratio of 5.12 and a beta of 1.08. The company's 50-day simple moving average is $51.36 and its two-hundred day simple moving average is $56.46.

Analyst Ratings Changes

PSTG has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Bank of America lowered their price objective on shares of 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 target on shares of Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a report on Thursday, February 27th. Finally, Citigroup cut their target price on shares of Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $70.95.

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.