Pure Storage, Inc. (NYSE:PSTG) Stock Holdings Increased by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC boosted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 32.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 660,080 shares of the technology company's stock after purchasing an additional 161,213 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.20% of Pure Storage worth $40,549,000 at the end of the most recent quarter.

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

Pure Storage Price Performance

Shares of PSTG traded down $0.26 during trading hours on Friday, reaching $48.72. 1,570,010 shares of the company's stock traded hands, compared to its average volume of 3,101,958. The firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of 128.21, a P/E/G ratio of 5.12 and a beta of 1.05. The business's fifty day simple moving average is $45.89 and its two-hundred day simple moving average is $55.65. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67.

Analyst Ratings Changes

A number of research analysts have commented on PSTG shares. Citigroup reduced their target price on Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Bank of America reduced their price objective 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. Evercore ISI lowered their target price on shares of Pure Storage from $75.00 to $60.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Piper Sandler decreased their price target 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. Finally, UBS Group boosted their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Pure Storage presently has an average rating of "Moderate Buy" and a consensus target price of $70.20.

Insider Buying and Selling at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,977 shares of the firm'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 transaction, the executive now owns 90,223 shares in the company, valued at $3,691,022.93. This trade represents a 7.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.00% of the stock is owned by corporate insiders.

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.