Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 54.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,813 shares of the technology company’s stock after buying an additional 23,076 shares during the period. Quantinno Capital Management LP’s holdings in Pure Storage were worth $4,043,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Pure Storage in the 4th quarter valued at $216,690,000. Artisan Partners Limited Partnership acquired a new stake in Pure Storage in the 4th quarter valued at $210,906,000. William Blair Investment Management LLC raised its position in Pure Storage by 1,725.3% in the fourth quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company’s stock valued at $155,124,000 after purchasing an additional 2,386,864 shares during the period. Geode Capital Management LLC lifted its stake in shares of Pure Storage by 25.4% during the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company’s stock worth $413,982,000 after purchasing an additional 1,366,458 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Pure Storage in the fourth quarter worth about $70,971,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Evercore ISI lowered their price target on shares of Pure Storage from $75.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, April 28th. 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. Citigroup boosted their target price on shares of Pure Storage from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Friday. Piper Sandler lowered their target price on Pure Storage from $76.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, UBS Group increased their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a report on Thursday, February 27th. One 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. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and an average price target of $70.70.

Insider Buying and Selling

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the transaction, the insider now directly owns 801,959 shares in the company, valued at approximately $41,709,887.59. The trade was a 11.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Dan Fitzsimons sold 6,977 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the completion of the sale, the executive now owns 90,223 shares of the company’s stock, valued at $3,691,022.93. The trade was a 7.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,849 shares of company stock worth $5,531,346 in the last three months. 5.60% of the stock is currently owned by insiders.

Pure Storage Stock Performance

NYSE PSTG opened at $56.53 on Monday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67. The business’s fifty day moving average is $46.48 and its two-hundred day moving average is $55.74. The stock has a market capitalization of $18.43 billion, a P/E ratio of 148.77, a P/E/G ratio of 5.12 and a beta of 1.05.

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.