Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in Pure Storage, Inc. (NYSE:PSTG) by 25.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,748,553 shares of the technology company’s stock after buying an additional 1,366,458 shares during the quarter. Geode Capital Management LLC owned 2.07% of Pure Storage worth $413,982,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new stake in shares of Pure Storage in the fourth quarter worth $29,000. Compass Financial Services Inc bought a new stake in shares of Pure Storage in the 4th quarter worth about $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Pure Storage in the 4th quarter worth about $31,000. Berbice Capital Management LLC acquired a new stake in shares of Pure Storage in the 4th quarter valued at about $37,000. Finally, Financial Life Planners bought a new position in shares of Pure Storage during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Down 9.4 %

PSTG opened at $37.03 on Friday. The firm has a market capitalization of $12.08 billion, a P/E ratio of 97.45, a PEG ratio of 5.12 and a beta of 1.08. The stock has a fifty day moving average of $57.29 and a 200-day moving average of $57.17. Pure Storage, Inc. has a 12-month low of $35.93 and a 12-month high of $73.67.

Analyst Ratings Changes

PSTG has been the topic of several research reports. Citigroup cut their price objective on Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Bank of America decreased their price objective on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. Morgan Stanley lifted their price target on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Finally, UBS Group boosted their price objective 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and an average target price of $73.20.

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.