Pure Storage, Inc. (NYSE:PSTG) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,566,374 shares of the technology company’s stock after purchasing an additional 12,972 shares during the period. Franklin Resources Inc. owned 0.79% of Pure Storage worth $157,652,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TT International Asset Management LTD raised its holdings in shares of Pure Storage by 1,160.1% in the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock worth $3,671,000 after acquiring an additional 67,285 shares during the last quarter. Sycomore Asset Management raised its stake in 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 purchasing an additional 68,840 shares during the last quarter. Asio Capital LLC purchased a new position in Pure Storage in the 4th quarter valued at about $264,000. Oak Thistle LLC purchased a new position in Pure Storage in the 4th quarter valued at about $1,196,000. Finally, State Street Corp grew its holdings in shares of Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after buying an additional 626,427 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Up 1.5 %

Shares of Pure Storage stock opened at $46.06 on Thursday. The company has a fifty day moving average price of $58.63 and a 200 day moving average price of $57.37. Pure Storage, Inc. has a twelve month low of $43.48 and a twelve month high of $73.67. The stock has a market cap of $15.03 billion, a price-to-earnings ratio of 121.21, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PSTG shares. Barclays upped their price objective on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Lake Street Capital lifted their price objective on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Stifel Nicolaus increased their target price on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, TD Cowen lifted their price target on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.