Shares of Pure Storage, Inc. (NYSE:PSTG – Get Rating) have been assigned an average rating of "Buy" from the twenty-one analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $38.94.

A number of analysts have recently commented on the stock. Susquehanna lifted their price target on shares of Pure Storage from $40.00 to $44.00 in a research note on Thursday, December 1st. StockNews.com upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Tuesday, January 10th. JPMorgan Chase & Co. cut their target price on shares of Pure Storage from $43.00 to $40.00 and set an "overweight" rating for the company in a research report on Friday, November 25th. TheStreet upgraded shares of Pure Storage from a "c" rating to a "b" rating in a research report on Wednesday, November 30th. Finally, Credit Suisse Group cut their target price on shares of Pure Storage from $44.00 to $40.00 and set an "outperform" rating for the company in a research report on Thursday, December 1st.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $27.61 on Thursday. Pure Storage has a 1 year low of $21.90 and a 1 year high of $36.71. The stock has a market cap of $8.35 billion, a P/E ratio of 690.42, a price-to-earnings-growth ratio of 5.86 and a beta of 1.28. The firm has a 50-day moving average of $28.11 and a 200 day moving average of $28.53.

Insider Buying and Selling at Pure Storage

In other news, Director Andrew William Fraser Brown sold 9,930 shares of the company's stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $27.28, for a total value of $270,890.40. Following the transaction, the director now directly owns 45,518 shares in the company, valued at $1,241,731.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Andrew William Fraser Brown sold 9,930 shares of the company's stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $27.28, for a total value of $270,890.40. Following the transaction, the director now directly owns 45,518 shares in the company, valued at $1,241,731.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory Tomb sold 10,643 shares of the company's stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $26.65, for a total transaction of $283,635.95. Following the completion of the transaction, the director now owns 30,544 shares in the company, valued at $813,997.60. The disclosure for this sale can be found here. Insiders have sold 59,170 shares of company stock worth $1,605,075 over the last quarter. Insiders own 6.80% of the company's stock.

Institutional Trading of Pure Storage

A number of hedge funds have recently added to or reduced their stakes in PSTG. FMR LLC lifted its position in shares of Pure Storage by 9.8% during the second quarter. FMR LLC now owns 36,316,619 shares of the technology company's stock valued at $933,700,000 after buying an additional 3,242,506 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Pure Storage by 0.7% during the first quarter. Vanguard Group Inc. now owns 27,369,119 shares of the technology company's stock valued at $966,403,000 after buying an additional 203,732 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Pure Storage by 2.0% during the first quarter. Wellington Management Group LLP now owns 3,209,361 shares of the technology company's stock valued at $113,322,000 after buying an additional 62,110 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Pure Storage by 92.1% during the third quarter. Marshall Wace LLP now owns 2,909,720 shares of the technology company's stock valued at $79,638,000 after buying an additional 1,394,660 shares during the last quarter. Finally, Scout Investments Inc. lifted its position in shares of Pure Storage by 74.5% during the third quarter. Scout Investments Inc. now owns 1,971,701 shares of the technology company's stock valued at $53,965,000 after buying an additional 841,569 shares during the last quarter. 84.96% of the stock is owned by hedge funds and other institutional investors.

About Pure Storage

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Pure Storage, Inc engages in the provision of flash-based storage solutions. Its technology replaces storage systems designed for mechanical disks with all-flash systems optimized end-to-end for solid-state memory. The company was founded by John Hayes and John Colgrove in October 2009 and is headquartered in Mountain View, CA.

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