Greenwood Gearhart Inc. Acquires New Shares in Pure Storage, Inc. (NYSE:PSTG)

Greenwood Gearhart Inc. bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,650 shares of the technology company’s stock, valued at approximately $224,000.

Other institutional investors also recently modified their holdings of the company. Sycomore Asset Management raised its stake in Pure Storage by 57.8% during the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock worth $11,541,000 after buying an additional 68,840 shares during the period. Asio Capital LLC bought a new stake in shares of Pure Storage in the fourth quarter worth about $264,000. Oak Thistle LLC acquired a new stake in shares of Pure Storage during the fourth quarter worth about $1,196,000. Franklin Resources Inc. lifted its holdings in shares of Pure Storage by 210.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock valued at $137,628,000 after purchasing an additional 1,730,123 shares in the last quarter. Finally, Victory Capital Management Inc. grew 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 valued at $17,486,000 after purchasing an additional 54,256 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PSTG. UBS Group raised their target price on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $75.00 price objective on shares of Pure Storage in a report on Thursday, February 27th. Citigroup lowered their target price on Pure Storage from $77.00 to $55.00 and set a “buy” rating for the company in a report on Monday. StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Piper Sandler decreased their price objective on Pure Storage from $76.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and a consensus price target of $70.95.

Pure Storage Price Performance

NYSE:PSTG opened at $41.29 on Thursday. The company has a market cap of $13.46 billion, a P/E ratio of 108.66, a P/E/G ratio of 5.12 and a beta of 1.08. The firm’s fifty day moving average price is $51.94 and its two-hundred day moving average price is $56.51. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67.

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.