Pure Storage, Inc. (NYSE:PSTG) Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 13.3% during the fourth quarter, Holdings Channel reports. The firm owned 4,696 shares of the technology company’s stock after acquiring an additional 550 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Pure Storage were worth $302,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Parallel Advisors LLC raised its stake in Pure Storage by 1.4% during the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock worth $815,000 after acquiring an additional 186 shares during the period. Cherry Creek Investment Advisors Inc. raised its position in shares of Pure Storage by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock worth $4,130,000 after purchasing an additional 189 shares during the period. Brookstone Capital Management lifted its holdings in shares of Pure Storage by 3.1% in the 4th quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock worth $486,000 after purchasing an additional 240 shares during the last quarter. KBC Group NV boosted its position in Pure Storage by 0.6% during the 4th quarter. KBC Group NV now owns 39,523 shares of the technology company’s stock valued at $2,428,000 after purchasing an additional 246 shares during the period. Finally, Truvestments Capital LLC grew its stake in Pure Storage by 3.0% during the 4th quarter. Truvestments Capital LLC now owns 8,436 shares of the technology company’s stock worth $518,000 after buying an additional 249 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Down 9.4 %

Shares of NYSE PSTG opened at $37.03 on Friday. The stock’s fifty day simple moving average is $57.29 and its 200 day simple moving average is $57.22. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 97.45, a PEG ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 52-week low of $35.93 and a 52-week high of $73.67.

Analysts Set New Price Targets

PSTG has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. Morgan Stanley boosted their target price on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Citigroup dropped their price target on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Bank of America reduced their price objective on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. One 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.20.

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.