Pure Storage, Inc. (NYSE:PSTG) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd cut its stake in Pure Storage, Inc. (NYSE:PSTG) by 16.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,000 shares of the technology company’s stock after selling 1,200 shares during the period. UniSuper Management Pty Ltd’s holdings in Pure Storage were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Artisan Partners Limited Partnership acquired a new position in shares of Pure Storage during 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. Franklin Resources Inc. lifted its stake in shares of Pure Storage by 210.2% during the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after purchasing an additional 1,730,123 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Pure Storage in the fourth quarter worth about $70,971,000. Finally, American Century Companies Inc. grew its stake in shares of Pure Storage by 262.4% in the fourth quarter. American Century Companies Inc. now owns 893,410 shares of the technology company’s stock valued at $54,882,000 after buying an additional 646,875 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PSTG has been the subject of a number of analyst reports. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Lake Street Capital upped their target price on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley lifted their price target on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Stifel Nicolaus upped their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. One equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Stock Performance

NYSE PSTG opened at $44.22 on Tuesday. Pure Storage, Inc. has a one year low of $43.70 and a one year high of $73.67. The company has a 50-day simple moving average of $59.65 and a 200-day simple moving average of $57.47. The firm has a market capitalization of $14.43 billion, a PE ratio of 116.38, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Pure Storage 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.