Pure Storage, Inc. (NYSE:PSTG) Stock Holdings Increased by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. boosted its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,207,162 shares of the technology company's stock after purchasing an additional 401,035 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 2.21% of Pure Storage worth $442,736,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. MGO One Seven LLC increased its holdings in shares of Pure Storage by 27.3% during the 4th quarter. MGO One Seven LLC now owns 9,519 shares of the technology company's stock worth $585,000 after buying an additional 2,040 shares during the last quarter. Pinebridge Investments L.P. increased its stake in Pure Storage by 45.5% during the fourth quarter. Pinebridge Investments L.P. now owns 225,412 shares of the technology company's stock worth $13,847,000 after acquiring an additional 70,443 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Pure Storage in the 4th quarter worth about $332,000. Hsbc Holdings PLC lifted its stake in shares of Pure Storage by 88.2% in the 4th quarter. Hsbc Holdings PLC now owns 228,374 shares of the technology company's stock valued at $14,095,000 after purchasing an additional 107,009 shares in the last quarter. Finally, Fayez Sarofim & Co purchased a new stake in shares of Pure Storage during the 4th quarter worth about $614,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Insiders Place Their Bets

In other 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 completion of the transaction, the executive now owns 90,223 shares in the company, valued at approximately $3,691,022.93. This represents a 7.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on PSTG shares. Evercore ISI cut their price target on shares of Pure Storage from $75.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday. Citigroup reduced their target price on shares of Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, Bank of America dropped their target price on Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $70.20.

Pure Storage Stock Performance

Shares of Pure Storage stock traded down $0.87 on Monday, reaching $44.83. 534,274 shares of the company were exchanged, compared to its average volume of 2,888,341. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The firm has a market cap of $14.62 billion, a price-to-earnings ratio of 117.97, a P/E/G ratio of 5.12 and a beta of 1.08. The company's 50-day moving average is $48.34 and its two-hundred day moving average is $56.17.

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.