Globeflex Capital L P Has $3.89 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Globeflex Capital L P reduced its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 38.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,318 shares of the technology company's stock after selling 39,771 shares during the quarter. Globeflex Capital L P's holdings in Pure Storage were worth $3,890,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock valued at $137,628,000 after acquiring an additional 1,730,123 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Pure Storage during the 4th quarter valued at $70,971,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company's stock worth $204,163,000 after buying an additional 747,034 shares during the period. State Street Corp grew its holdings in shares of Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company's stock valued at $515,596,000 after buying an additional 626,427 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new stake in Pure Storage in the 3rd quarter worth about $20,470,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Wall Street Analysts Forecast Growth

PSTG has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on shares of Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. StockNews.com downgraded Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Wells Fargo & Company boosted their price target on Pure Storage from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Evercore ISI lifted their target price on shares of Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, UBS Group increased their price target on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $73.20.

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Pure Storage Price Performance

Shares of PSTG traded up $1.69 during mid-day trading on Wednesday, reaching $51.56. The company had a trading volume of 2,954,739 shares, compared to its average volume of 3,031,484. The company has a market capitalization of $16.82 billion, a P/E ratio of 135.69, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The company's 50-day moving average is $62.32 and its 200-day moving average is $57.33.

Insiders Place Their Bets

In other Pure Storage 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the transaction, the executive now directly owns 72,927 shares in the company, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company's stock.

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.