Wells Fargo & Company MN Purchases 21,823 Shares of Pure Storage, Inc. (NYSE:PSTG)

Wells Fargo & Company MN boosted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 722,921 shares of the technology company's stock after acquiring an additional 21,823 shares during the quarter. Wells Fargo & Company MN owned 0.22% of Pure Storage worth $44,409,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Pure Storage by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company's stock worth $2,054,448,000 after acquiring an additional 615,931 shares in the last quarter. Geode Capital Management LLC increased its position in Pure Storage by 25.4% in the 4th quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock worth $413,982,000 after purchasing an additional 1,366,458 shares during the last quarter. Norges Bank purchased a new stake in shares of Pure Storage during the 4th quarter worth about $216,690,000. Bank of New York Mellon Corp lifted its holdings in shares of Pure Storage by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,508,029 shares of the technology company's stock valued at $215,498,000 after buying an additional 9,985 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Pure Storage by 10.2% during the 4th quarter. Blair William & Co. IL now owns 3,444,714 shares of the technology company's stock valued at $211,609,000 after buying an additional 317,712 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PSTG. Bank of America cut their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Morgan Stanley lifted their price objective on shares of 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 increased their target price 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, Piper Sandler cut their target price on Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.95.

Pure Storage Stock Up 2.2 %

NYSE PSTG traded up $0.89 during midday trading on Tuesday, hitting $42.14. The company had a trading volume of 544,402 shares, compared to its average volume of 3,127,767. The firm has a fifty day simple moving average of $53.05 and a two-hundred day simple moving average of $56.72. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67. The stock has a market cap of $13.74 billion, a price-to-earnings ratio of 110.90, 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.