Clearbridge Investments LLC Boosts Stake in Pure Storage, Inc. (NYSE:PSTG)

Clearbridge Investments LLC boosted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 27.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 434,479 shares of the technology company’s stock after acquiring an additional 94,417 shares during the period. Clearbridge Investments LLC owned 0.13% of Pure Storage worth $26,690,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PSTG. BNP Paribas Financial Markets increased its holdings in shares of Pure Storage by 14.9% in the third quarter. BNP Paribas Financial Markets now owns 180,957 shares of the technology company’s stock valued at $9,091,000 after purchasing an additional 23,398 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Pure Storage by 377.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,381 shares of the technology company’s stock valued at $421,000 after buying an additional 6,627 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Pure Storage by 5.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,021 shares of the technology company’s stock worth $3,618,000 after acquiring an additional 3,753 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Pure Storage by 27.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 182,327 shares of the technology company’s stock worth $9,160,000 after acquiring an additional 39,566 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Pure Storage during the 3rd quarter valued at about $227,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Trading Up 2.5 %

NYSE:PSTG opened at $45.40 on Wednesday. Pure Storage, Inc. has a 12-month low of $43.70 and a 12-month high of $73.67. The firm has a market cap of $14.81 billion, a PE ratio of 119.46, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The stock has a fifty day moving average price of $59.15 and a 200 day moving average price of $57.45.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PSTG shares. JPMorgan Chase & Co. lifted their target price on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Stifel Nicolaus upped their price objective on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Bank of America cut their target price on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. StockNews.com downgraded Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, TD Cowen raised their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

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.