Graham Capital Management L.P. Purchases Shares of 29,153 Pure Storage, Inc. (NYSE:PSTG)

Graham Capital Management L.P. acquired a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,153 shares of the technology company’s stock, valued at approximately $1,791,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Granahan Investment Management LLC lifted its stake in shares of Pure Storage by 4.8% during the fourth quarter. Granahan Investment Management LLC now owns 167,898 shares of the technology company’s stock valued at $10,314,000 after buying an additional 7,723 shares during the period. Focus Partners Wealth purchased a new position in shares of Pure Storage during the fourth quarter valued at approximately $543,000. Ensign Peak Advisors Inc lifted its stake in shares of Pure Storage by 42.3% during the fourth quarter. Ensign Peak Advisors Inc now owns 152,019 shares of the technology company’s stock valued at $9,339,000 after buying an additional 45,208 shares during the period. Ethic Inc. purchased a new position in shares of Pure Storage during the fourth quarter valued at approximately $962,000. Finally, Frontier Capital Management Co. LLC lifted its stake in shares of Pure Storage by 32.3% during the fourth quarter. Frontier Capital Management Co. LLC now owns 660,080 shares of the technology company’s stock valued at $40,549,000 after buying an additional 161,213 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PSTG shares. Needham & Company LLC reissued a “buy” rating and set a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. StockNews.com downgraded shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Evercore ISI cut their price target on shares of Pure Storage from $75.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Citigroup cut their price target on shares of Pure Storage from $77.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Piper Sandler cut their price target on shares of Pure Storage from $76.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $70.20.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,977 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the sale, the executive now directly owns 90,223 shares of the company’s stock, valued at approximately $3,691,022.93. This trade represents a 7.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.00% of the company’s stock.

Pure Storage Stock Down 0.5%

Pure Storage stock opened at $48.72 on Monday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67. The firm has a fifty day moving average of $45.89 and a 200-day moving average of $55.67. The firm has a market capitalization of $15.88 billion, a P/E ratio of 128.21, a PEG ratio of 5.12 and a beta of 1.05.

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.