Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Baird Financial Group Inc.

Baird Financial Group Inc. grew its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 9,041.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 521,516 shares of the technology company's stock after acquiring an additional 515,811 shares during the period. Baird Financial Group Inc. owned about 0.16% of Pure Storage worth $32,037,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Pure Storage by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company's stock worth $2,054,448,000 after purchasing an additional 615,931 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Pure Storage by 5.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,207,162 shares of the technology company's stock worth $442,736,000 after acquiring an additional 401,035 shares during the period. Geode Capital Management LLC raised its position in 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 in the last quarter. Champlain Investment Partners LLC lifted its holdings in Pure Storage by 3.0% in the fourth quarter. Champlain Investment Partners LLC now owns 5,921,392 shares of the technology company's stock valued at $363,751,000 after acquiring an additional 174,449 shares during the period. Finally, Invesco Ltd. boosted its position in Pure Storage by 18.8% in the 4th quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company's stock worth $255,677,000 after purchasing an additional 657,175 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Pure Storage Trading Down 0.5 %

Shares of NYSE:PSTG opened at $47.58 on Tuesday. The business has a 50-day moving average price of $46.13 and a 200 day moving average price of $55.83. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67. The company has a market capitalization of $15.51 billion, a price-to-earnings ratio of 125.21, a PEG ratio of 5.12 and a beta of 1.05.

Insider Buying and Selling at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,977 shares of the 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

PSTG has been the topic of several analyst reports. Piper Sandler dropped their price target on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Bank of America reduced their price target on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Citigroup dropped their price objective on Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. One 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $70.20.

Pure Storage 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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