Empowered Funds LLC Takes $282,000 Position in Pure Storage, Inc. (NYSE:PSTG)

Empowered Funds LLC acquired a new stake in shares of Pure Storage, Inc. (NYSE:PSTG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,596 shares of the technology company’s stock, valued at approximately $282,000.

A number of other hedge funds have also recently modified their holdings of the business. FMR LLC grew its position in shares of Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after acquiring an additional 368,643 shares during the period. State Street Corp lifted its stake in shares of Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after buying an additional 626,427 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in shares of Pure Storage by 3.2% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock valued at $285,575,000 after buying an additional 177,559 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Pure Storage by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock valued at $269,798,000 after buying an additional 219,971 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Pure Storage by 22.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after buying an additional 747,034 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Down 3.9 %

Shares of NYSE:PSTG opened at $65.14 on Friday. The company has a market capitalization of $21.25 billion, a price-to-earnings ratio of 171.43, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $40.32 and a 12 month high of $73.67. The firm’s 50-day moving average is $66.20 and its 200 day moving average is $58.00.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of analyst reports. Lake Street Capital lifted their target price on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer initiated coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 target price on the stock. UBS Group lifted their target price on shares of Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Northland Securities restated a “market perform” rating and set a $63.00 target price (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus boosted their price target on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Pure Storage has an average rating of “Moderate Buy” and an average price target of $72.95.

Insider Activity at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the transaction, the insider now directly owns 262,144 shares in the company, valued at $16,142,827.52. This represents a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the transaction, the insider now owns 7,316,722 shares in the company, valued at $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,178 shares of company stock worth $8,871,746. Insiders own 6.00% of the company’s stock.

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.