Susquehanna Fundamental Investments LLC Purchases New Position in Pure Storage, Inc. (NYSE:PSTG)

Susquehanna Fundamental Investments LLC purchased a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 56,607 shares of the technology company's stock, valued at approximately $3,477,000.

A number of other institutional investors have also recently modified their holdings of PSTG. Sycomore Asset Management grew its stake in shares of Pure Storage by 57.8% in 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 period. Asio Capital LLC bought a new position in shares of Pure Storage during the 4th quarter valued at $264,000. Oak Thistle LLC purchased a new position in shares of Pure Storage in the 4th quarter worth $1,196,000. Franklin Resources Inc. grew its holdings in shares of Pure Storage by 210.2% in the third 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 period. Finally, Victory Capital Management Inc. increased its position 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 valued at $17,486,000 after acquiring an additional 54,256 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PSTG. Evercore ISI cut their price target on Pure Storage from $75.00 to $60.00 and set an "outperform" rating for the company in a research note on Monday. StockNews.com cut shares of Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. 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 note on Tuesday, April 8th. Bank of America reduced 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. Finally, UBS Group lifted their target price on Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $70.20.

Pure Storage Stock Up 2.5 %

NYSE PSTG traded up $1.13 during trading on Thursday, hitting $46.49. 2,543,639 shares of the stock traded hands, compared to its average volume of 3,098,137. The firm has a 50-day simple moving average of $47.05 and a 200-day simple moving average of $55.97. 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 $15.16 billion, a P/E ratio of 122.35, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08.

Insider Buying and Selling at Pure Storage

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