Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by Xponance Inc.

Xponance Inc. grew its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,766 shares of the technology company’s stock after purchasing an additional 5,909 shares during the period. Xponance Inc.’s holdings in Pure Storage were worth $4,900,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in shares of Pure Storage by 0.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 73,249 shares of the technology company’s stock valued at $4,500,000 after purchasing an additional 661 shares during the period. William Blair Investment Management LLC raised its stake in shares of Pure Storage by 1,725.3% during 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. Clearwater Capital Advisors LLC purchased a new stake in shares of Pure Storage during the fourth quarter valued at approximately $236,000. Parallel Advisors LLC raised its stake in shares of Pure Storage by 1.4% during the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock valued at $815,000 after purchasing an additional 186 shares during the period. Finally, Polen Capital Management LLC bought a new stake in shares of Pure Storage in the fourth quarter worth $654,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PSTG shares. 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. Barclays lifted their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Evercore ISI lifted their price target on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a research note on Thursday, February 27th. Finally, Stifel Nicolaus lifted their price target on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One equities 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Insider Activity

In other news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the transaction, the executive now owns 72,927 shares of the company’s stock, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

Shares of PSTG opened at $51.56 on Thursday. Pure Storage, Inc. has a 1 year low of $44.76 and a 1 year high of $73.67. The company has a market cap of $16.82 billion, a price-to-earnings ratio of 135.69, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The firm has a fifty day moving average of $62.07 and a 200-day moving average of $57.29.

About Pure Storage

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.