Ontario Teachers Pension Plan Board Acquires 9,315 Shares of Pure Storage, Inc. (NYSE:PSTG)

Ontario Teachers Pension Plan Board grew its stake in Pure Storage, Inc. (NYSE:PSTG) by 87.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,941 shares of the technology company’s stock after purchasing an additional 9,315 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Pure Storage were worth $1,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CreativeOne Wealth LLC acquired a new stake in Pure Storage in the fourth quarter valued at approximately $303,000. Mariner LLC boosted its holdings in shares of Pure Storage by 15.7% during the 4th quarter. Mariner LLC now owns 31,281 shares of the technology company’s stock valued at $1,922,000 after acquiring an additional 4,237 shares in the last quarter. Seeds Investor LLC grew its position in Pure Storage by 18.4% during the 4th quarter. Seeds Investor LLC now owns 5,402 shares of the technology company’s stock worth $332,000 after acquiring an additional 838 shares during the last quarter. Townsquare Capital LLC increased its holdings in Pure Storage by 9.6% in the 4th quarter. Townsquare Capital LLC now owns 80,480 shares of the technology company’s stock worth $4,944,000 after purchasing an additional 7,036 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Pure Storage by 1.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 103,350 shares of the technology company’s stock valued at $6,349,000 after purchasing an additional 1,568 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PSTG. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. Morgan Stanley upped their price target on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. UBS Group lifted their price target 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. StockNews.com downgraded Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Citigroup cut their target price on Pure Storage from $77.00 to $55.00 and set a “buy” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.95.

Pure Storage Trading Up 1.8 %

PSTG opened at $41.99 on Wednesday. The company has a fifty day moving average price of $52.50 and a two-hundred day moving average price of $56.62. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The company has a market cap of $13.69 billion, a P/E ratio of 110.49, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08.

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.