8,838 Shares in Pure Storage, Inc. (NYSE:PSTG) Bought by Focus Partners Wealth

Focus Partners Wealth acquired a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,838 shares of the technology company's stock, valued at approximately $543,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSTG. Norges Bank bought a new position in shares of Pure Storage during the fourth quarter valued at $216,690,000. Artisan Partners Limited Partnership bought a new position in shares of Pure Storage during the fourth quarter valued at $210,906,000. William Blair Investment Management LLC lifted its holdings in shares of Pure Storage by 1,725.3% during the fourth quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company's stock valued at $155,124,000 after acquiring an additional 2,386,864 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Pure Storage by 25.4% during 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 acquiring an additional 1,366,458 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Pure Storage during the fourth quarter valued at $70,971,000. 83.42% of the stock is owned by institutional investors.

Pure Storage Stock Down 0.5%

Shares of PSTG stock opened at $56.28 on Tuesday. The stock has a 50-day moving average price of $46.65 and a 200 day moving average price of $55.77. The firm has a market cap of $18.35 billion, a price-to-earnings ratio of 148.11, a PEG ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $73.67.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 872 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $51.51, for a total value of $44,916.72. Following the completion of the transaction, the executive now directly owns 89,351 shares in the company, valued at approximately $4,602,470.01. The trade was a 0.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $52.01, for a total value of $5,201,000.00. Following the completion of the transaction, the insider now owns 801,959 shares of the company's stock, valued at $41,709,887.59. This represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,849 shares of company stock worth $5,531,346. 5.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a report on Thursday, February 27th. Bank of America lowered their target price on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Evercore ISI cut their price target on Pure Storage from $75.00 to $60.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Citigroup lifted their price target on Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a report on Friday. Finally, Piper Sandler cut their price target on Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Pure Storage has an average rating of "Moderate Buy" and a consensus target price of $70.70.

Pure Storage Company 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.

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