Champlain Investment Partners LLC Purchases 174,449 Shares of Pure Storage, Inc. (NYSE:PSTG)

Champlain Investment Partners LLC raised its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,921,392 shares of the technology company's stock after buying an additional 174,449 shares during the quarter. Pure Storage comprises about 2.3% of Champlain Investment Partners LLC's portfolio, making the stock its largest position. Champlain Investment Partners LLC owned about 1.82% of Pure Storage worth $363,751,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSTG. Sugar Maple Asset Management LLC bought a new position in Pure Storage in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc bought a new position in shares of Pure Storage in the 4th quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Pure Storage during the 4th quarter worth $31,000. Berbice Capital Management LLC bought a new stake in shares of Pure Storage during the 4th quarter worth $37,000. Finally, Financial Life Planners acquired a new stake in Pure Storage in the fourth quarter valued at about $44,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Up 1.2 %

PSTG traded up $0.49 during trading on Tuesday, hitting $40.70. The company's stock had a trading volume of 790,949 shares, compared to its average volume of 3,110,482. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67. The stock's fifty day moving average price is $50.30 and its 200-day moving average price is $56.42. The firm has a market capitalization of $13.27 billion, a P/E ratio of 107.25, a PEG ratio of 5.12 and a beta of 1.08.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Piper Sandler dropped their target price on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Bank of America dropped their price objective 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. StockNews.com cut shares of Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Citigroup dropped their price target on Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, UBS Group boosted their price objective on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report 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 issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $70.95.

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.