Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Xponance Inc.

Xponance Inc. increased its stake in Pure Storage, Inc. (NYSE:PSTG) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 79,766 shares of the technology company’s stock after buying an additional 5,909 shares during the quarter. Xponance Inc.’s holdings in Pure Storage were worth $4,900,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PSTG. William Blair Investment Management LLC boosted its position in shares of Pure Storage by 1,725.3% during the 4th quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company’s stock valued at $155,124,000 after purchasing an additional 2,386,864 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Pure Storage by 210.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock valued at $137,628,000 after purchasing an additional 1,730,123 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Pure Storage during the 4th quarter valued at about $70,971,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after buying an additional 747,034 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after buying an additional 626,427 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analysts Set New Price Targets

PSTG has been the topic of several research reports. Morgan Stanley upped their price target on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Barclays upped their price target on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Evercore ISI upped their price target on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their price target on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, UBS Group upped their price target on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a report on Thursday, February 27th. One 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Stock Up 3.4 %

Pure Storage stock opened at $51.56 on Thursday. The company’s fifty day simple moving average is $62.07 and its 200-day simple moving average is $57.29. Pure Storage, Inc. has a 12 month low of $44.76 and a 12 month high of $73.67. The stock has a market cap of $16.82 billion, a P/E ratio of 135.69, a P/E/G ratio of 5.12 and a beta of 1.09.

Insider Activity

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the transaction, the executive now owns 72,927 shares of the company’s stock, valued at $4,675,349.97. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction 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 approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

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.