Legal & General Group Plc Has $126.95 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Legal & General Group Plc trimmed its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 29.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,066,595 shares of the technology company’s stock after selling 866,084 shares during the quarter. Legal & General Group Plc’s holdings in Pure Storage were worth $126,951,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PSTG. Sycomore Asset Management grew its position in shares of Pure Storage by 57.8% in the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock valued at $11,541,000 after buying an additional 68,840 shares during the last quarter. Asio Capital LLC bought a new stake in Pure Storage in the fourth quarter valued at approximately $264,000. Oak Thistle LLC acquired a new stake in Pure Storage during the 4th quarter valued at approximately $1,196,000. Franklin Resources Inc. raised its holdings in Pure Storage by 210.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after purchasing an additional 1,730,123 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Pure Storage by 23.5% in the 4th quarter. Victory Capital Management Inc. now owns 284,649 shares of the technology company’s stock worth $17,486,000 after purchasing an additional 54,256 shares during the period. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Citigroup dropped their target price on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Piper Sandler cut their target price on Pure Storage from $76.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. Morgan Stanley increased their price target on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Finally, Bank of America reduced their price objective on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.05.

Pure Storage Stock Down 6.3 %

NYSE PSTG opened at $41.88 on Friday. The firm has a market capitalization of $13.65 billion, a P/E ratio of 110.21, a PEG ratio of 5.12 and a beta of 1.08. The company has a 50-day moving average price of $54.17 and a 200-day moving average price of $56.80. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week 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.