Ensign Peak Advisors Inc Has $9.34 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Ensign Peak Advisors Inc lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 42.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,019 shares of the technology company's stock after purchasing an additional 45,208 shares during the quarter. Ensign Peak Advisors Inc's holdings in Pure Storage were worth $9,339,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Pure Storage

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

Wall Street Analyst Weigh In

Several research firms have weighed in on PSTG. Bank of America lowered their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Citigroup decreased their target price 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. Piper Sandler lowered their target price 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. StockNews.com downgraded Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Pure Storage has an average rating of "Moderate Buy" and a consensus target price of $70.20.

Pure Storage Stock Performance

Shares of PSTG stock opened at $53.34 on Tuesday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67. The business's fifty day moving average is $45.91 and its 200 day moving average is $55.66. The company has a market capitalization of $17.39 billion, a PE ratio of 140.37, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05.

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.

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