Geode Capital Management LLC Boosts Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Geode Capital Management LLC grew its holdings in Pure Storage, Inc. (NYSE:PSTG) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,382,095 shares of the technology company’s stock after purchasing an additional 219,971 shares during the quarter. Geode Capital Management LLC owned approximately 1.64% of Pure Storage worth $269,798,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after buying an additional 306 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage during the 3rd quarter worth $31,000. ORG Partners LLC bought a new stake in Pure Storage during the second quarter valued at about $35,000. Venturi Wealth Management LLC boosted its position in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after purchasing an additional 219 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Pure Storage by 174.4% in the second quarter. Blue Trust Inc. now owns 741 shares of the technology company’s stock valued at $48,000 after purchasing an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PSTG. Needham & Company LLC raised their price target on shares of Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wedbush restated an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Raymond James reduced their price target on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. UBS Group raised their price objective on Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Finally, Citigroup boosted their target price on Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.10.

Pure Storage Trading Up 1.9 %

NYSE PSTG opened at $63.70 on Friday. Pure Storage, Inc. has a 1 year low of $34.32 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74. The company has a market capitalization of $20.87 billion, a PE ratio of 167.64, a P/E/G ratio of 7.48 and a beta of 1.13. The company has a fifty day moving average of $54.29 and a 200 day moving average of $56.89.

Insider Activity

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the transaction, the executive now owns 94,446 shares in the company, valued at approximately $4,785,578.82. This represents a 8.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the sale, the chief accounting officer now owns 96,639 shares in the company, valued at $4,862,874.48. This trade represents a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 454,542 shares of company stock valued at $25,154,030 in the last quarter. 6.00% of the stock is currently owned by company 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.