Pure Storage (NYSE:PSTG – Get Rating) had its target price upped by investment analysts at Susquehanna from $40.00 to $44.00 in a research note issued to investors on Thursday, The Fly reports. Susquehanna's price objective indicates a potential upside of 50.74% from the company's previous close.

Several other brokerages have also weighed in on PSTG. JPMorgan Chase & Co. decreased their price objective on Pure Storage from $43.00 to $40.00 and set an "overweight" rating on the stock in a report on Friday, November 25th. Northland Securities lifted their price objective on Pure Storage from $44.00 to $47.00 in a report on Thursday, September 1st. Lake Street Capital lifted their price objective on Pure Storage from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, September 1st. The Goldman Sachs Group lifted their price objective on Pure Storage to $44.00 in a report on Tuesday, September 6th. Finally, KeyCorp lifted their price objective on Pure Storage from $34.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, September 1st. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.67.

Pure Storage Stock Down 0.9 %

Shares of NYSE PSTG opened at $29.19 on Thursday. The business's 50 day moving average is $29.08 and its two-hundred day moving average is $27.94. The company has a market cap of $8.73 billion, a P/E ratio of -486.42, a P/E/G ratio of 8.06 and a beta of 1.32. Pure Storage has a 12 month low of $21.90 and a 12 month high of $36.71.

Insiders Place Their Bets

In other Pure Storage news, Director Andrew William Fraser Brown sold 12,637 shares of the business's stock in a transaction on Monday, September 12th. The stock was sold at an average price of $30.18, for a total value of $381,384.66. Following the transaction, the director now owns 55,448 shares of the company's stock, valued at $1,673,420.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Pure Storage

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Toroso Investments LLC bought a new stake in shares of Pure Storage during the third quarter worth $312,000. Glenmede Trust Co. NA increased its holdings in Pure Storage by 233.4% in the third quarter. Glenmede Trust Co. NA now owns 97,371 shares of the technology company's stock valued at $2,664,000 after purchasing an additional 68,168 shares during the last quarter. Advisory Research Inc. increased its holdings in Pure Storage by 2.1% in the third quarter. Advisory Research Inc. now owns 22,277 shares of the technology company's stock valued at $610,000 after purchasing an additional 452 shares during the last quarter. CreativeOne Wealth LLC bought a new stake in Pure Storage in the third quarter valued at about $501,000. Finally, Neuberger Berman Group LLC increased its holdings in Pure Storage by 7.2% in the third quarter. Neuberger Berman Group LLC now owns 116,287 shares of the technology company's stock valued at $3,188,000 after purchasing an additional 7,860 shares during the last quarter. Institutional investors own 82.91% of the company's stock.

Pure Storage Company Profile

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Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

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