Greenwood Gearhart Inc. Purchases New Shares in Pure Storage, Inc. (NYSE:PSTG)

Greenwood Gearhart Inc. acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,650 shares of the technology company’s stock, valued at approximately $224,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Pure Storage by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company’s stock valued at $2,054,448,000 after buying an additional 615,931 shares during the period. Geode Capital Management LLC lifted its position in shares of Pure Storage by 25.4% during the 4th quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company’s stock valued at $413,982,000 after acquiring an additional 1,366,458 shares during the period. Invesco Ltd. grew its holdings in shares of Pure Storage by 18.8% during the 4th quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company’s stock worth $255,677,000 after purchasing an additional 657,175 shares in the last quarter. Norges Bank bought a new position in shares of Pure Storage in the fourth quarter worth $216,690,000. Finally, Bank of New York Mellon Corp raised its stake in Pure Storage by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,508,029 shares of the technology company’s stock valued at $215,498,000 after purchasing an additional 9,985 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Performance

NYSE:PSTG opened at $41.29 on Thursday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67. The firm’s fifty day moving average is $51.94 and its 200-day moving average is $56.51. The firm has a market cap of $13.46 billion, a P/E ratio of 108.66, a P/E/G ratio of 5.12 and a beta of 1.08.

Analysts Set New Price Targets

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

Pure Storage Company 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.