Corebridge Financial Inc. Lowers Stake in Pure Storage, Inc. (NYSE:PSTG)

Corebridge Financial Inc. reduced its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 355,297 shares of the technology company's stock after selling 13,209 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Pure Storage worth $21,826,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PSTG. Parallel Advisors LLC lifted its position in shares of Pure Storage by 1.4% during the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock worth $815,000 after acquiring an additional 186 shares in the last quarter. Cherry Creek Investment Advisors Inc. lifted its holdings in Pure Storage by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company's stock worth $4,130,000 after purchasing an additional 189 shares in the last quarter. Larson Financial Group LLC boosted its stake in Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock worth $32,000 after purchasing an additional 212 shares during the period. Brookstone Capital Management grew its holdings in Pure Storage by 3.1% during the 4th quarter. Brookstone Capital Management now owns 7,917 shares of the technology company's stock valued at $486,000 after buying an additional 240 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Pure Storage by 0.6% during the fourth quarter. KBC Group NV now owns 39,523 shares of the technology company's stock valued at $2,428,000 after buying an additional 246 shares during the period. 83.42% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction dated 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 sale, the insider now owns 262,144 shares of the company's stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.00% of the company's stock.

Pure Storage Stock Down 5.0 %

Shares of NYSE:PSTG traded down $2.45 during midday trading on Friday, hitting $46.00. 3,002,676 shares of the stock traded hands, compared to its average volume of 3,088,047. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67. The stock has a market capitalization of $15.01 billion, a PE ratio of 121.04, a P/E/G ratio of 5.12 and a beta of 1.09. The business's 50 day moving average is $60.09 and its two-hundred day moving average is $57.43.

Wall Street Analyst Weigh In

PSTG has been the subject of a number of analyst reports. Evercore ISI raised their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Piper Sandler raised shares of Pure Storage from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. StockNews.com lowered Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Citigroup lowered their price target on Pure Storage from $80.00 to $77.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Lake Street Capital upped their price objective on shares of Pure Storage from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. One 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $73.20.

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.