Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP increased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,118,774 shares of the technology company’s stock after buying an additional 91,368 shares during the period. First Trust Advisors LP owned about 0.96% of Pure Storage worth $191,586,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSTG. Sugar Maple Asset Management LLC acquired a new position in Pure Storage during the 4th quarter worth $29,000. Compass Financial Services Inc acquired a new stake in Pure Storage in the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. purchased a new position in Pure Storage in the fourth quarter worth approximately $31,000. Berbice Capital Management LLC purchased a new stake in shares of Pure Storage in the 4th quarter valued at approximately $37,000. Finally, Financial Life Planners acquired a new stake in shares of Pure Storage in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PSTG shares. Needham & Company LLC restated a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a research note on Thursday, February 27th. StockNews.com lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Bank of America dropped their target price on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Citigroup decreased their price objective on shares of Pure Storage from $77.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, UBS Group upped their target price on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.95.

Pure Storage Trading Up 1.3 %

Shares of Pure Storage stock opened at $41.79 on Friday. The company has a 50-day moving average of $50.84 and a two-hundred day moving average of $56.45. The stock has a market cap of $13.62 billion, a PE ratio of 109.97, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67.

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.