Fayez Sarofim & Co acquired a new position 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 (SEC). The fund acquired 10,000 shares of the technology company's stock, valued at approximately $614,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. World Investment Advisors lifted its stake in shares of Pure Storage by 1.6% in the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock valued at $592,000 after purchasing an additional 150 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in shares of Pure Storage by 2.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company's stock valued at $355,000 after purchasing an additional 150 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in shares of Pure Storage by 2.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company's stock valued at $396,000 after purchasing an additional 157 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Pure Storage by 1.4% in the 4th 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 last quarter. Finally, Cherry Creek Investment Advisors Inc. lifted its stake in shares of Pure Storage by 0.3% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.
Insider Transactions at Pure Storage
In other news, CRO Dan Fitzsimons sold 6,977 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive now owns 90,223 shares in the company, valued at approximately $3,691,022.93. The trade was a 7.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.00% of the company's stock.
Wall Street Analysts Forecast Growth
PSTG has been the topic of several research reports. Citigroup decreased their target price on Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and set a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. UBS Group increased their target price on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, February 27th. Bank of America decreased their target price on Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Finally, StockNews.com lowered Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $70.95.
Read Our Latest Stock Report on PSTG
Pure Storage Price Performance
Shares of NYSE:PSTG traded up $0.58 during trading on Friday, hitting $45.71. 1,806,817 shares of the company were exchanged, compared to its average volume of 3,118,808. The stock has a market capitalization of $14.90 billion, a P/E ratio of 120.29, a PEG ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67. The firm's 50 day moving average price is $48.34 and its 200-day moving average price is $56.17.
About Pure Storage
(
Free Report)
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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