Geode Capital Management LLC Has $413.98 Million Holdings in Pure Storage, Inc. (NYSE:PSTG)

Geode Capital Management LLC boosted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 25.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,748,553 shares of the technology company’s stock after purchasing an additional 1,366,458 shares during the quarter. Geode Capital Management LLC’s holdings in Pure Storage were worth $413,982,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Investment Management Corp of Ontario increased its stake in Pure Storage by 288.3% in the third quarter. Investment Management Corp of Ontario now owns 26,794 shares of the technology company’s stock valued at $1,346,000 after acquiring an additional 19,894 shares during the period. Royal London Asset Management Ltd. bought a new position in shares of Pure Storage in the third quarter worth about $3,516,000. Quantinno Capital Management LP raised its position in Pure Storage by 18.8% in the 3rd quarter. Quantinno Capital Management LP now owns 42,737 shares of the technology company’s stock worth $2,147,000 after purchasing an additional 6,769 shares during the last quarter. State Street Corp lifted its stake in shares of Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after acquiring an additional 626,427 shares during the period. Finally, Weiss Asset Management LP acquired a new position in Pure Storage during the 3rd quarter valued at about $6,648,000. 83.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley increased their target price on 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 boosted their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, February 27th. Citigroup cut their target price on Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. Finally, StockNews.com downgraded Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. 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 stock. According to data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $73.20.

Pure Storage Stock Down 9.4 %

Shares of NYSE:PSTG opened at $37.03 on Friday. The company’s 50 day moving average price is $57.29 and its two-hundred day moving average price is $57.17. Pure Storage, Inc. has a 12-month low of $35.93 and a 12-month high of $73.67. The firm has a market cap of $12.08 billion, a PE ratio of 97.45, a PEG ratio of 5.12 and a beta of 1.08.

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.