Vanguard Group Inc. Has $2.05 Billion Position in Pure Storage, Inc. (NYSE:PSTG)

Vanguard Group Inc. boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,443,732 shares of the technology company's stock after buying an additional 615,931 shares during the quarter. Vanguard Group Inc. owned 10.25% of Pure Storage worth $2,054,448,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PSTG. Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage in the fourth quarter valued at $29,000. Compass Financial Services Inc acquired a new stake in shares of Pure Storage during the fourth quarter worth $29,000. Larson Financial Group LLC raised its position in shares of Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock worth $32,000 after purchasing an additional 212 shares during the period. Berbice Capital Management LLC purchased a new stake in shares of Pure Storage during the fourth quarter valued at $37,000. Finally, Financial Life Planners acquired a new position in shares of Pure Storage in the 4th quarter valued at $44,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSTG has been the subject of a number of analyst reports. StockNews.com lowered shares of Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Barclays upped their price target on shares of Pure Storage from $56.00 to $61.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 4th. Citigroup lowered their price objective on shares of Pure Storage from $80.00 to $77.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Northland Securities reissued a "market perform" rating and set a $63.00 target price (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Finally, TD Cowen raised their target price on Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $73.20.

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Pure Storage Stock Performance

Shares of Pure Storage stock traded down $1.78 during midday trading on Monday, reaching $44.22. 4,276,208 shares of the company's stock traded hands, compared to its average volume of 3,092,783. The company has a market cap of $14.43 billion, a price-to-earnings ratio of 116.38, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 52 week low of $43.70 and a 52 week high of $73.67. The company's 50 day simple moving average is $59.65 and its 200 day simple moving average is $57.47.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the company's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the sale, the insider now directly owns 262,144 shares of the company's stock, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

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.