Vanguard Group Inc. Buys 615,931 Shares of Pure Storage, Inc. (NYSE:PSTG)

Vanguard Group Inc. grew its position in Pure Storage, Inc. (NYSE:PSTG) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 33,443,732 shares of the technology company’s stock after acquiring an additional 615,931 shares during the quarter. Vanguard Group Inc. owned 0.10% of Pure Storage worth $2,054,448,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new position in Pure Storage in the 4th quarter worth about $29,000. Compass Financial Services Inc bought a new stake in shares of Pure Storage during the fourth quarter worth about $29,000. Larson Financial Group LLC increased its stake in shares of Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after buying an additional 212 shares during the period. Berbice Capital Management LLC bought a new position in Pure Storage in the 4th quarter valued at approximately $37,000. Finally, Financial Life Planners acquired a new stake in Pure Storage during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PSTG shares. TD Cowen upped their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Citigroup reduced 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 note on Thursday, February 27th. Wells Fargo & Company raised their target price on Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Barclays upped their price target on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus increased their price target on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Trading Down 4.3 %

NYSE:PSTG opened at $50.69 on Thursday. Pure Storage, Inc. has a 12 month low of $44.76 and a 12 month high of $73.67. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of 133.40, a PEG ratio of 5.12 and a beta of 1.09. The firm has a fifty day simple moving average of $60.84 and a two-hundred day simple moving average of $57.42.

Insider Transactions at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 6.00% of the company’s stock.

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.