40,700 Shares in Pure Storage, Inc. (NYSE:PSTG) Acquired by Bayesian Capital Management LP

Bayesian Capital Management LP acquired a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,700 shares of the technology company's stock, valued at approximately $2,500,000.

Several other hedge funds also recently made changes to their positions in the company. World Investment Advisors raised its holdings in shares of Pure Storage by 1.6% during the fourth quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock worth $592,000 after purchasing an additional 150 shares during the period. Peapack Gladstone Financial Corp boosted its position in Pure Storage by 2.7% during the 4th quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company's stock worth $355,000 after acquiring an additional 150 shares during the period. HighPoint Advisor Group LLC grew its stake in shares of Pure Storage by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company's stock worth $396,000 after purchasing an additional 157 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Pure Storage by 1.4% during the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock valued at $815,000 after purchasing an additional 186 shares during the period. Finally, Cherry Creek Investment Advisors Inc. raised its stake in shares of Pure Storage by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company's stock valued at $4,130,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Activity at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,977 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the transaction, the executive now owns 90,223 shares in the company, valued at approximately $3,691,022.93. This trade represents a 7.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.00% of the company's stock.

Pure Storage Trading Down 0.9 %

PSTG stock traded down $0.46 during mid-day trading on Friday, hitting $48.52. The stock had a trading volume of 981,827 shares, compared to its average volume of 3,092,497. The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of 127.69, a PEG ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The company has a fifty day moving average of $45.92 and a 200 day moving average of $55.66.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com cut shares of Pure Storage from a "buy" rating to a "hold" rating 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 report on Thursday, February 27th. UBS Group boosted their target price on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a report on Thursday, February 27th. Bank of America cut their target price on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler decreased their price target on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $70.20.

About Pure Storage

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.