Other equities analysts have also recently issued research reports about the company. Wells Fargo & Co began coverage on Pure Storage in a report on Tuesday, November 14th. They issued an outperform rating and a $22.00 target price for the company. UBS Group reiterated a buy rating and issued a $22.00 target price (up previously from $18.00) on shares of Pure Storage in a report on Wednesday, November 29th. Maxim Group reiterated a hold rating and issued a $20.00 target price (up previously from $15.00) on shares of Pure Storage in a report on Wednesday, November 29th. Lake Street Capital set a $21.00 target price on Pure Storage and gave the stock a buy rating in a report on Wednesday, November 29th. They noted that the move was a valuation call. Finally, BMO Capital Markets lifted their target price on Pure Storage to $22.00 and gave the stock an outperform rating in a report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of $21.31.
Shares of Pure Storage (PSTG) opened at $20.98 on Thursday. Pure Storage has a 12 month low of $9.61 and a 12 month high of $22.60.
In related news, President David Hatfield sold 70,000 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $16.95, for a total transaction of $1,186,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Dietzen sold 125,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $21.37, for a total value of $2,671,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 646,955 shares of company stock valued at $12,004,424. 46.58% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Pure Storage by 11.0% during the 4th quarter. BlackRock Inc. now owns 16,162,210 shares of the technology company’s stock valued at $256,332,000 after acquiring an additional 1,598,653 shares during the period. Renaissance Technologies LLC boosted its holdings in Pure Storage by 53.1% during the 4th quarter. Renaissance Technologies LLC now owns 5,887,800 shares of the technology company’s stock valued at $93,381,000 after acquiring an additional 2,042,985 shares during the period. Okumus Fund Management Ltd. boosted its holdings in Pure Storage by 4.1% during the 3rd quarter. Okumus Fund Management Ltd. now owns 5,299,197 shares of the technology company’s stock valued at $84,734,000 after acquiring an additional 206,943 shares during the period. Millennium Management LLC lifted its holdings in shares of Pure Storage by 442.0% in the 4th quarter. Millennium Management LLC now owns 2,417,888 shares of the technology company’s stock worth $38,348,000 after buying an additional 1,971,785 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in shares of Pure Storage by 15.9% in the 4th quarter. Two Sigma Investments LP now owns 1,782,654 shares of the technology company’s stock worth $28,273,000 after buying an additional 244,884 shares during the period. Institutional investors own 45.49% of the company’s stock.
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Pure Storage Company Profile
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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