NewEdge Advisors LLC Has $1.53 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

NewEdge Advisors LLC lifted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 32.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,842 shares of the technology company's stock after purchasing an additional 6,153 shares during the quarter. NewEdge Advisors LLC's holdings in Pure Storage were worth $1,526,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PSTG. Barclays PLC lifted its stake in shares of Pure Storage by 9.4% in the 3rd quarter. Barclays PLC now owns 316,911 shares of the technology company's stock valued at $15,921,000 after purchasing an additional 27,345 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Pure Storage in the 3rd quarter valued at $477,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Pure Storage during the 3rd quarter valued at $119,000. Tidal Investments LLC boosted its position in Pure Storage by 2.0% during the 3rd quarter. Tidal Investments LLC now owns 69,711 shares of the technology company's stock worth $3,502,000 after purchasing an additional 1,343 shares during the period. Finally, Franklin Resources Inc. raised its position in Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock valued at $137,628,000 after purchasing an additional 1,730,123 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on PSTG shares. UBS Group boosted their price target on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, February 27th. StockNews.com downgraded shares of Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Piper Sandler decreased their price objective on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Citigroup cut their price target 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. Finally, Bank of America lowered their price objective 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. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.20.

Pure Storage Price Performance

Shares of NYSE PSTG traded up $0.22 during midday trading on Tuesday, hitting $45.60. 275,576 shares of the company's stock were exchanged, compared to its average volume of 3,101,189. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67. The firm has a market cap of $14.87 billion, a P/E ratio of 120.19, a PEG ratio of 5.12 and a beta of 1.08. The stock's 50 day moving average price is $47.89 and its 200-day moving average price is $56.11.

Insider Activity

In related news, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $40.91, for a total value of $285,429.07. Following the transaction, the executive now owns 90,223 shares of the company's stock, valued at approximately $3,691,022.93. This trade represents a 7.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is owned by 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.