Boothbay Fund Management LLC Makes New $402,000 Investment in Pure Storage, Inc. (NYSE:PSTG)

Boothbay Fund Management LLC bought a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,539 shares of the technology company's stock, valued at approximately $402,000.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Pure Storage by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company's stock worth $2,054,448,000 after buying an additional 615,931 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Pure Storage by 5.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,207,162 shares of the technology company's stock valued at $442,736,000 after purchasing an additional 401,035 shares in the last quarter. Geode Capital Management LLC grew its stake in Pure Storage by 25.4% in the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock valued at $413,982,000 after purchasing an additional 1,366,458 shares during the last quarter. Champlain Investment Partners LLC lifted its position in shares of Pure Storage by 3.0% during the fourth quarter. Champlain Investment Partners LLC now owns 5,921,392 shares of the technology company's stock valued at $363,751,000 after buying an additional 174,449 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Pure Storage by 18.8% in the 4th quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company's stock valued at $255,677,000 after buying an additional 657,175 shares in the last quarter. Institutional investors own 83.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Bank of America reduced their target price on Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Citigroup decreased their price objective on shares of Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Evercore ISI cut their price target on shares of Pure Storage from $75.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Pure Storage currently has an average rating of "Moderate Buy" and an average price target of $70.20.

Insider Activity

In other Pure Storage news, CRO Dan Fitzsimons sold 6,977 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was 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 represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.00% of the company's stock.

Pure Storage Trading Down 1.7 %

PSTG traded down $0.82 on Wednesday, reaching $46.76. The stock had a trading volume of 239,816 shares, compared to its average volume of 3,086,948. The business's 50-day moving average price is $46.03 and its two-hundred day moving average price is $55.77. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67. The company has a market cap of $15.24 billion, a P/E ratio of 122.77, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05.

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.