Townsquare Capital LLC Raises Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Townsquare Capital LLC boosted its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,480 shares of the technology company's stock after purchasing an additional 7,036 shares during the period. Townsquare Capital LLC's holdings in Pure Storage were worth $4,944,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sugar Maple Asset Management LLC purchased a new position in Pure Storage in the 4th quarter valued at approximately $29,000. Compass Financial Services Inc bought a new position in shares of Pure Storage in the fourth quarter worth $29,000. Crowley Wealth Management Inc. purchased a new position in shares of Pure Storage in the fourth quarter valued at $31,000. Berbice Capital Management LLC bought a new stake in shares of Pure Storage during the 4th quarter valued at $37,000. Finally, Financial Life Planners purchased a new stake in Pure Storage during the 4th quarter worth about $44,000. 83.42% of the stock is owned by institutional investors.

Pure Storage Price Performance

NYSE:PSTG traded up $0.53 during trading hours on Friday, hitting $41.79. The company had a trading volume of 2,606,810 shares, compared to its average volume of 3,131,416. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67. The company has a market capitalization of $13.62 billion, a PE ratio of 109.97, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08. The stock has a 50-day moving average price of $50.84 and a 200 day moving average price of $56.41.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their price target on Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup lowered their target price on shares of Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. UBS Group boosted their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a research report on Thursday, February 27th. StockNews.com downgraded Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC restated a "buy" rating and set a $75.00 target price on shares of Pure Storage 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $70.95.

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.