Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC decreased its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,684 shares of the technology company's stock after selling 5,418 shares during the period. Exchange Traded Concepts LLC's holdings in Pure Storage were worth $3,236,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new position in shares of Pure Storage in the 4th quarter worth approximately $29,000. ORG Wealth Partners LLC bought a new position in Pure Storage during the third quarter valued at $31,000. Larson Financial Group LLC raised its stake in shares of 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 acquiring an additional 212 shares during the period. Berbice Capital Management LLC bought a new stake in shares of Pure Storage in the 4th quarter worth about $37,000. Finally, Venturi Wealth Management LLC grew its holdings in Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock valued at $38,000 after purchasing an additional 219 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the transaction, the insider now directly owns 7,316,722 shares in the company, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the company's 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 completion of the sale, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,178 shares of company stock worth $8,871,746 over the last 90 days. 6.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of analyst reports. Northland Securities reaffirmed a "market perform" rating and set a $63.00 target price (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. UBS Group increased their target price on Pure Storage from $45.00 to $47.00 and gave the stock a "sell" rating in a research note on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. Evercore ISI raised their price target on shares of Pure Storage from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley boosted their price objective on shares of Pure Storage from $62.00 to $72.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.70.

Pure Storage Stock Performance

NYSE:PSTG traded down $0.22 during mid-day trading on Friday, hitting $72.15. 2,097,778 shares of the company's stock traded hands, compared to its average volume of 1,965,734. The company has a fifty day moving average of $61.69 and a 200 day moving average of $56.98. Pure Storage, Inc. has a twelve month low of $38.78 and a twelve month high of $73.67. The company has a market capitalization of $23.54 billion, a P/E ratio of 189.87, a P/E/G ratio of 8.72 and a beta of 1.09.

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.