Rockefeller Capital Management L.P. Grows Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Rockefeller Capital Management L.P. grew its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,350 shares of the technology company’s stock after purchasing an additional 1,568 shares during the period. Rockefeller Capital Management L.P.’s holdings in Pure Storage were worth $6,349,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Pure Storage by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company’s stock valued at $2,054,448,000 after buying an additional 615,931 shares during the last quarter. Geode Capital Management LLC boosted its stake in Pure Storage by 25.4% during the 4th quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company’s stock valued at $413,982,000 after acquiring an additional 1,366,458 shares during the last quarter. Invesco Ltd. grew its holdings in Pure Storage by 18.8% during the 4th quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company’s stock worth $255,677,000 after acquiring an additional 657,175 shares in the last quarter. Norges Bank acquired a new position in Pure Storage during the 4th quarter worth $216,690,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Pure Storage by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,508,029 shares of the technology company’s stock valued at $215,498,000 after purchasing an additional 9,985 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Trading Up 1.3 %

Shares of NYSE:PSTG opened at $41.79 on Friday. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67. The firm has a market cap of $13.62 billion, a P/E ratio of 109.97, a P/E/G ratio of 5.12 and a beta of 1.08. The company has a 50 day moving average of $51.36 and a 200-day moving average of $56.46.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PSTG. Citigroup lowered their price objective on Pure Storage from $77.00 to $55.00 and set a “buy” rating for the company in a report on Monday. Bank of America lowered their price target on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company 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 research note on Thursday, February 27th. UBS Group boosted their target price on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. Finally, StockNews.com downgraded shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.95.

Pure Storage 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.