Marshall Wace LLP Raises Position in Pure Storage, Inc. (NYSE:PSTG)

Marshall Wace LLP increased its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 146.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,900 shares of the technology company's stock after purchasing an additional 7,064 shares during the quarter. Marshall Wace LLP's holdings in Pure Storage were worth $731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Pure Storage in the fourth quarter worth approximately $216,690,000. Artisan Partners Limited Partnership purchased a new position in shares of Pure Storage in the fourth quarter worth about $210,906,000. William Blair Investment Management LLC boosted its stake in shares of Pure Storage by 1,725.3% during the fourth quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company's stock valued at $155,124,000 after purchasing an additional 2,386,864 shares during the period. Franklin Resources Inc. grew its holdings in Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock worth $137,628,000 after acquiring an additional 1,730,123 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Pure Storage by 25.4% in the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock worth $413,982,000 after purchasing an additional 1,366,458 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Trading Down 1.2 %

Shares of NYSE PSTG traded down $0.57 during midday trading on Wednesday, hitting $47.01. The company's stock had a trading volume of 184,640 shares, compared to its average volume of 3,086,639. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67. The business's 50 day moving average is $46.03 and its two-hundred day moving average is $55.77. The firm has a market cap of $15.33 billion, a P/E ratio of 123.51, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05.

Wall Street Analyst Weigh In

PSTG has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. UBS Group upped their price target on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. Citigroup lowered their price objective on shares of Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Piper Sandler reduced their price target 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Pure Storage has a consensus rating of "Moderate Buy" and an average price target of $70.20.

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 6,977 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by company insiders.

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.