First Trust Advisors LP Raises Holdings in Pure Storage, Inc. (NYSE:PSTG)

First Trust Advisors LP raised its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,118,774 shares of the technology company’s stock after buying an additional 91,368 shares during the quarter. First Trust Advisors LP’s holdings in Pure Storage were worth $191,586,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC raised its stake in Pure Storage by 9.4% in the 3rd quarter. Barclays PLC now owns 316,911 shares of the technology company’s stock valued at $15,921,000 after purchasing an additional 27,345 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Pure Storage by 15.1% during the third quarter. Sanctuary Advisors LLC now owns 17,709 shares of the technology company’s stock valued at $915,000 after buying an additional 2,317 shares during the period. World Investment Advisors LLC purchased a new stake in Pure Storage in the 3rd quarter worth approximately $477,000. Wilmington Savings Fund Society FSB acquired a new position in Pure Storage in the 3rd quarter valued at $119,000. Finally, Tidal Investments LLC boosted its holdings in shares of Pure Storage by 2.0% during the third quarter. Tidal Investments LLC now owns 69,711 shares of the technology company’s stock worth $3,502,000 after purchasing an additional 1,343 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PSTG. UBS Group increased their target price on Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Thursday, February 27th. Bank of America dropped their price target on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. Citigroup cut their target price on Pure Storage from $77.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Piper Sandler dropped their price target on Pure Storage from $76.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.95.

Pure Storage Stock Performance

NYSE:PSTG opened at $41.79 on Friday. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The business’s 50-day simple moving average is $50.84 and its 200 day simple moving average is $56.45. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of 109.97, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08.

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.