Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 2.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,711 shares of the technology company’s stock after acquiring an additional 1,343 shares during the period. Tidal Investments LLC’s holdings in Pure Storage were worth $3,502,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after acquiring an additional 368,643 shares during the last quarter. State Street Corp boosted its position in shares of Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after purchasing an additional 626,427 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Pure Storage by 3.2% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock valued at $285,575,000 after purchasing an additional 177,559 shares during the last quarter. Geode Capital Management LLC raised its position in Pure Storage by 4.3% in the third quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock valued at $269,798,000 after purchasing an additional 219,971 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Pure Storage by 22.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after purchasing an additional 747,034 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the transaction, the insider now directly owns 500,000 shares of the company’s stock, valued at $24,970,000. The trade was a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the sale, the executive now owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. This represents a 8.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 454,542 shares of company stock worth $25,154,030 in the last ninety days. 6.00% of the stock is owned by corporate insiders.

Pure Storage Stock Up 1.9 %

Shares of NYSE:PSTG opened at $63.70 on Friday. The firm has a 50 day simple moving average of $54.29 and a 200-day simple moving average of $56.89. Pure Storage, Inc. has a twelve month low of $34.32 and a twelve month high of $70.41. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $20.87 billion, a PE ratio of 167.64, a P/E/G ratio of 7.48 and a beta of 1.13.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PSTG. Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. Stifel Nicolaus boosted 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. Oppenheimer began coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective for the company. Susquehanna reaffirmed a “positive” rating and set a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Finally, Lake Street Capital increased their target price on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.10.

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.