Vanguard Group Inc. Has $2.05 Billion Holdings in Pure Storage, Inc. (NYSE:PSTG)

Vanguard Group Inc. increased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,443,732 shares of the technology company’s stock after buying an additional 615,931 shares during the period. Vanguard Group Inc. owned 10.25% of Pure Storage worth $2,054,448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSTG. Citigroup Inc. increased its stake in shares of Pure Storage by 11.3% during the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after purchasing an additional 14,659 shares during the last quarter. Larson Financial Group LLC grew its holdings in Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after purchasing an additional 212 shares during the period. Bank of Montreal Can increased its position in Pure Storage by 92.0% during the third quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock worth $9,570,000 after buying an additional 92,762 shares during the last quarter. Quantbot Technologies LP bought a new stake in Pure Storage in the third quarter valued at approximately $3,381,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Pure Storage by 14.9% in the third quarter. BNP Paribas Financial Markets now owns 180,957 shares of the technology company’s stock valued at $9,091,000 after buying an additional 23,398 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PSTG. Wells Fargo & Company boosted their target price on Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. TD Cowen upped their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. UBS Group raised their target price 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 reiterated a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a research note on Thursday, February 27th. Finally, StockNews.com cut shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Stock Down 4.3 %

Shares of Pure Storage stock opened at $50.69 on Thursday. The firm’s 50-day moving average price is $60.84 and its two-hundred day moving average price is $57.42. The company has a market capitalization of $16.54 billion, a price-to-earnings ratio of 133.40, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 12-month low of $44.76 and a 12-month high of $73.67.

Insider Buying and Selling

In related news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the sale, the insider now directly owns 262,144 shares in the company, valued at $16,142,827.52. This represents a 7.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.