Northern Trust Corp Grows Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Northern Trust Corp lifted its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 18.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,888,060 shares of the technology company's stock after acquiring an additional 443,728 shares during the period. Northern Trust Corp owned approximately 0.89% of Pure Storage worth $177,414,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PSTG. Beacon Pointe Advisors LLC lifted its position in shares of Pure Storage by 27.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 12,590 shares of the technology company's stock worth $773,000 after buying an additional 2,723 shares during the last quarter. Quarry LP lifted its stake in shares of Pure Storage by 387.4% in the fourth quarter. Quarry LP now owns 2,369 shares of the technology company's stock worth $146,000 after acquiring an additional 1,883 shares during the period. Boothbay Fund Management LLC bought a new stake in Pure Storage in the fourth quarter valued at approximately $402,000. Susquehanna Fundamental Investments LLC acquired a new stake in Pure Storage during the 4th quarter valued at approximately $3,477,000. Finally, Coldstream Capital Management Inc. raised its holdings in Pure Storage by 6.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 5,009 shares of the technology company's stock worth $308,000 after purchasing an additional 282 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction on 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 in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Price Performance

NYSE:PSTG traded down $0.64 during trading hours on Wednesday, hitting $46.94. The company had a trading volume of 335,139 shares, compared to its average volume of 3,087,244. The stock has a 50-day moving average price of $46.03 and a 200 day moving average price of $55.77. The company has a market capitalization of $15.30 billion, a PE ratio of 123.44, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PSTG. 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 lowered their price objective on Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group raised 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. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Evercore ISI lowered their price objective 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $70.20.

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.