Pure Storage, Inc. (NYSE:PSTG) Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,118,774 shares of the technology company's stock after buying an additional 91,368 shares during the period. First Trust Advisors LP owned 0.96% of Pure Storage worth $191,586,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sycomore Asset Management increased its stake in Pure Storage by 57.8% during the fourth quarter. Sycomore Asset Management now owns 187,874 shares of the technology company's stock worth $11,541,000 after acquiring an additional 68,840 shares during the last quarter. Asio Capital LLC acquired a new stake in Pure Storage during the 4th quarter worth approximately $264,000. Oak Thistle LLC purchased a new position in Pure Storage in the fourth quarter valued at approximately $1,196,000. Franklin Resources Inc. lifted its position in Pure Storage by 210.2% during the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock valued at $137,628,000 after buying an additional 1,730,123 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Pure Storage by 23.5% during the fourth quarter. Victory Capital Management Inc. now owns 284,649 shares of the technology company's stock worth $17,486,000 after buying an additional 54,256 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Stock Performance

Shares of PSTG traded up $0.55 during midday trading on Friday, hitting $45.68. 461,797 shares of the stock traded hands, compared to its average volume of 3,108,951. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The business's 50 day moving average price is $48.81 and its two-hundred day moving average price is $56.17. The firm has a market capitalization of $14.89 billion, a PE ratio of 120.16, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08.

Insider Buying and Selling at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction that occurred 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 sale, the executive now owns 90,223 shares of the company's stock, valued at approximately $3,691,022.93. The trade was a 7.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on PSTG. StockNews.com lowered shares of Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Citigroup decreased their target price 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. Bank of America lowered their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Piper Sandler reduced their target price 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price target on shares of Pure Storage in a report 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. According to MarketBeat, Pure Storage presently has a consensus rating of "Moderate Buy" and an average price target of $70.95.

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.