American Century Companies Inc. Acquires 646,875 Shares of Pure Storage, Inc. (NYSE:PSTG)

American Century Companies Inc. raised its holdings in Pure Storage, Inc. (NYSE:PSTG) by 262.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 893,410 shares of the technology company’s stock after acquiring an additional 646,875 shares during the quarter. American Century Companies Inc. owned about 0.27% of Pure Storage worth $54,882,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. increased its stake in shares of Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after acquiring an additional 14,659 shares during the last quarter. TT International Asset Management LTD grew its holdings in Pure Storage by 1,160.1% during the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock valued at $3,671,000 after purchasing an additional 67,285 shares during the period. Sycomore Asset Management increased its stake in Pure Storage by 57.8% in the fourth 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 in the last quarter. Asio Capital LLC acquired a new stake in Pure Storage in the fourth quarter worth $264,000. Finally, Oak Thistle LLC acquired a new stake in Pure Storage in the fourth quarter worth $1,196,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the transaction, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

PSTG has been the subject of several research analyst reports. Lake Street Capital boosted their price target on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Evercore ISI boosted their target price on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Barclays increased their price target on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. UBS Group boosted their price objective on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. increased their target price on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $73.20.

Pure Storage Stock Down 4.3 %

Shares of Pure Storage stock opened at $50.69 on Thursday. Pure Storage, Inc. has a 12-month low of $44.76 and a 12-month high of $73.67. The business’s 50 day moving average is $60.84 and its 200-day moving average is $57.42. The stock has a market cap of $16.54 billion, a P/E ratio of 133.40, a P/E/G ratio of 5.12 and a beta of 1.09.

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.