AXQ Capital LP Reduces Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

AXQ Capital LP lessened its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 79.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,742 shares of the technology company's stock after selling 14,902 shares during the period. AXQ Capital LP's holdings in Pure Storage were worth $230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Pure Storage in the 4th quarter worth $29,000. Compass Financial Services Inc purchased a new position in Pure Storage during the fourth quarter worth about $29,000. Larson Financial Group LLC lifted its position in Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock valued at $32,000 after purchasing an additional 212 shares during the period. Berbice Capital Management LLC purchased a new stake in Pure Storage in the 4th quarter valued at approximately $37,000. Finally, Financial Life Planners acquired a new position in Pure Storage during the 4th quarter worth approximately $44,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.00% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC reissued a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. Morgan Stanley increased their target price on shares of Pure Storage from $62.00 to $72.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. Wells Fargo & Company boosted their price target on Pure Storage from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Evercore ISI raised their price objective on Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, Piper Sandler upgraded Pure Storage from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Pure Storage has an average rating of "Moderate Buy" and a consensus price target of $73.20.

Pure Storage Trading Down 0.3 %

NYSE:PSTG traded down $0.14 on Tuesday, hitting $52.74. 1,005,309 shares of the stock were exchanged, compared to its average volume of 3,018,067. The stock has a fifty day moving average of $61.33 and a 200-day moving average of $57.42. The stock has a market cap of $17.21 billion, a PE ratio of 138.80, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67.

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.